Expanding the market and promoting the strengths of Vietnam and Laos

(Chinhphu.vn) - Deputy Minister of Industry and Trade Truong Thanh Hoai emphasized that the Fair has practical significance, contributing to strengthening economic connectivity, promoting investment and trade, expanding markets, and promoting the strengths of Vietnam and Laos.

Delegates cut the ribbon to open the Fair

On July 17, in the capital Vientiane, Laos, the Vietnam - Laos Trade Fair 2025 (VIETLAO EXPO 2025) officially opened. This is the largest trade promotion event co-chaired by the Ministry of Industry and Trade of Vietnam and the Ministry of Industry and Trade of Laos, assigned to the Trade Promotion Department of the two countries to coordinate with relevant agencies since 2007.

Co-chairing the opening ceremony of the Fair were Lao Minister of Industry and Trade Malaithong Kommasith, on the Vietnamese side were Deputy Minister of Industry and Trade Truong Thanh Hoai, Ambassador Extraordinary and Plenipotentiary of Vietnam to Laos Nguyen Minh Tam...

According to Deputy Minister of Industry and Trade Truong Thanh Hoai, this is one of the large-scale annual trade promotion activities co-organized by the two countries' Ministries of Industry and Trade, with the aim of contributing to the implementation of the directions of the two Politburoes , the Joint Statements and High-level Agreements of the two countries, specifically the trade cooperation commitments at the 47th Vietnam - Laos Intergovernmental Cooperation Conference taking place in January 2025, under the chairmanship of the Prime Ministers of the two countries.

Deputy Minister Truong Thanh Hoai emphasized that the Fair also has practical significance, contributing to strengthening economic connectivity, promoting investment and trade, expanding markets, promoting each side's strong products, creating conditions for businesses of the two countries to meet and seek investment and business cooperation opportunities towards the goal of sustainable growth and common prosperity.

Delegates visit booths at the Fair

Following the success of previous fairs, VIETLAO EXPO 2025 has a scale of 250 standard booths; including 120 booths of nearly 80 quality, branded and reputable Vietnamese enterprises in industries such as: Pharmaceuticals and medical equipment; agriculture - forestry - seafood and processed food; garment - fashion; handicrafts and interior and exterior decoration; plastic and consumer products...

The Vietnamese business delegation participating in the Fair aims to: Promote the image of the country and Vietnamese businesses; Promote exports, expand the consumption network of Vietnamese goods in the Lao market and the Northeast region of Thailand; Create an environment to introduce the potential and strengths of businesses in Vietnam's economic sectors... The Fair has and will continue to be an effective bridge for trade organizations, manufacturers, and investors from Vietnam and Laos to meet, exchange experiences, transfer technology, invest, form joint ventures, and sign contracts.

Within the framework of the Fair, other activities also take place: Trade transactions between Vietnamese and Lao enterprises; trade connection conferences...

Vietnam - Laos Trade Fair lasts until July 21, 2025.

In 2024, Vietnam-Laos trade turnover will reach 2.25 billion USD, up 38.2% compared to 2023. Of which, Vietnam's exports to Laos will reach 755.2 million USD, up 41.6% over the previous year, while Vietnam's imports from Laos will reach 1.5 billion USD, up 36.5%. Entering 2025, economic and trade relations between Vietnam and Laos will continue to record many positive changes, with trade turnover maintaining a stable growth momentum.

In the first 5 months of 2025, the total import-export turnover between Vietnam and Laos reached 1.6 billion USD, an increase of 100.4% over the same period in 2024. Of which, Vietnam's export turnover to Laos reached 583.3 million USD, an increase of 144.7% over the same period in 2024. Vietnam's import turnover from Laos reached 979 million USD, an increase of 80.9% over the same period in 2024. Vietnam is currently still having a trade deficit with Laos with a value of 395.8 million USD, an increase of 30.7% over the same period in 2024. This result has an important contribution from Vietnamese enterprises investing and doing business in Laos.

Anh Tho

Source: https://baochinhphu.vn/mo-rong-thi-truong-quang-ba-san-pham-the-manh-cua-hai-nuoc-viet-nam-lao-102250718102038516.htm