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Wednesday, January 8, 2025
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Vietnam, Laos Promote Trade, Industrial, Energy Cooperation

This Week

On 3 January, the Ministry of Industry and Trade of Vietnam and the Lao Embassy in Vietnam agreed to continue coordinating closely to promote economic, trade, industrial, and energy cooperation between the two countries in Hanoi, Vietnam.

According to state media, Nguyen Hong Dien, Vietnam’s Minister of Industry and Trade, highlighted the significant growth in bilateral trade, with turnover reaching an estimated USD 2.2 billion in 2024, marking a nearly 34 percent increase from 2023.

Cooperation in the purchase and sale of electricity and mining products between Vietnam and Laos in 2024 has shown promising results.

The import of electricity and coal from Laos not only aims to meet Vietnam’s needs in socio-economic development but also helps to exploit Laos’ potential, thereby contributing to the country’s socio-economic development.

Khamphao Ernthavanh, Lao Ambassador to Vietnam, also expressed her gratitude for Vietnam’s role in stabilizing Laos’ fuel market by supplying 36 million liters of gasoline and oil in 2024.

Both parties are optimistic about the upcoming 47th Vietnam – Laos Intergovernmental Committee meeting, scheduled for January 2025 in Laos.

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