Trade turnover in 2022 exceeded the set target, reaching 1.7 billion USD, up 24%. Vietnam's investment capital in Laos totaled 180 million USD, up 52.5 %.
The two sides agreed to implement decisions by their Politburos and an agreement on a 2023 cooperation plan designed to boost collaboration in politics, diplomacy, national defense, security, investment, and trade. They will also work to create changes in their partnership in economy, culture, education, healthcare, science, and technology, increase investment, and boost infrastructure development in Laos.
The two countries agreed to focus on the implementation of joint statements and agreements reached by the two Politburos and others, including the one signed at the 45th meeting, and will strive to increase trade 10-15% in 2023.
They agreed to expand collaboration in personnel training, transportation projects, and the sustainable use of water and other natural resources. Greater efforts will be made to deal with obstacles to projects in Laos funded or invested in by Vietnam, and encourage ministries, agencies and localities to expand relations and support each other. The two countries will continue to provide mutual support at regional and international forums.
The Lao PM said the two sides should continue delegation exchanges at all levels and through all channels to consolidate political relations, exchange political theory, ensure security, social order, and safety, and cooperate in national defense and security. Bilateral economic cooperation should be expanded, Siphandone said, calling for joint efforts to improve the investment environment and enhance economic connectivity, including transportation, telecom, and energy infrastructure.
PM Chinh said the main task is to enhance connectivity and mutual support in building an economy of independence and self-reliance which integrates into the world intensively, extensively, pragmatically, and effectively. The two sides should facilitate the operations of their businesses, Mr. Chinh said.
Both PMs witnessed the signing of the meeting’s minute and a 2023 cooperation agreement between the Vietnamese and Lao Governments.