Vietnam, Laos work out 10-year cooperation strategy

Prime Minister Nguyen Xuan Phuc (R) and his Lao counterpart Thongloun Sisoulith at the meeting

Prime Minister Nguyen Xuan Phuc and his Lao counterpart Thongloun Sisoulith co-chaired the 42nd meeting of the Vietnam-Laos Inter-Governmental Committee in Ha Noi on January 4.

After the conclusion of the meeting, the two PMs attended a press conference held in Hanoi the same day to announce the outcomes of their meeting. Prime Minister Nguyen Xuan Phuc said the two sides discussed a ten-year cooperation strategy.

The Vietnamese cabinet leader highlighted the success of the 42nd meeting of the Vietnam-Laos Inter-Governmental Committee which drew the participation of representatives from the two countries’ 40 ministries, agencies and localities.

In addition to sharing international and regional issues, which showed their common views on many related issues, bilateral economic, trade and tourism cooperation yielded positive results and was seen as a bright spot in their partnership over the past year.

The two sides discuss building a 10-year cooperation strategy in the time ahead.

It is worthy of note that Vietnam’s total development assistance to Laos surged by closed to 19% last year while five works – joint effort between the two nations, were inaugurated and put into operation.

Vietnam has poured more than US$5 billion in Laos. Two-way trade exceeded the US$ 1.25 billion mark, above the set target. Over 16,000 Lao students are studying in Vietnam while nearly 100 Vietnamese students are in Laos.

The two PMs expressed their elation at the effective and comprehensive development of bilateral ties over the past years. The two sides consented to carry out set agreements and deepen bilateral political, external, national defence – security ties, towards achieving the growth rate of 10-15 percent in two-way trade next year.

PM Phuc attributed the good results of bilateral cooperation to the strong determination, and drastic direction of the Party and State of the two countries which contributes to strengthening the confidence of the two Parties and their people, thus further promoting practical cooperation.

Vietnam continues to buy electricity from Laos at 2,000-3,000 and even up to 5,000 MW in the time to come, thus helping spur the development of the energy sector of Laos, Phuc said.

They will boost connectivity between the two economies, including in transportation, energy, sustainable use and management of water resources and other natural resources.

Vietnam and Laos will work hand in hand at regional and global forums such as ASEAN, APEC, ASEM, among others, the Government chief said.

The two PMs witness the signing of cooperation documents.

On the occasion, nine cooperation agreements across multiple fields were signed at the meeting, PM Phuc said, adding that the Vietnamese government will direct ministries, agencies, localities, businesses and units work closely with Lao partners, thus creating the best possible conditions for Vietnamese businesses to effectively do business in Laos.

The Lao PM, for his part, said the meeting reflects Vietnam’s appreciation of cooperation with Laos to give a boost to each side’s socio-economic development. This reaffirms the great friendship and comprehensive cooperation between the two countries which continue to be preserved, nurtured and developed, he noted.

Thongloun Sisoulith also asked ministries and agencies from both nations to effectively implement agreements reached by the two governments.