Viet Nam, Laos boost trade and industrial cooperation

08/11/2007 -- 2:35 PM

Vientiane (VNA) – Viet Nam and Laos will strengthen bilateral trade and implement energy and mining projects in Laos . Agreements to this effect were reached at a talk between visiting Vietnamese Minister of Industry and Trade Vu Huy Hoang and his Laos counterpart, Nam Vignaketh, in Vientiane on November 7. Under the plans, the two sides will immediately complete a draft strategy on bilateral trade development for the 2008-2015 period so they can submit to their respective governments in December this year. Also in December, the two countries will approve a list of goods to be given import and export tax incentives between 2008 and 2010. The two sides will also revise other signed agreements and include border market development into the agreement on economic, cultural and technical cooperation between Viet Nam and Laos in 2008. Under the plan, they will boost goods exchanges in border areas, strengthen border market management and prevent tax fraud and trafficking. They also decided to co-organise the Viet Nam-Lao Trade Fair 2008 in Vientiane to mark Laos ’ National Day. Minister Hoang and Lao Minister of Energy and Mines Bosaikham Vongdara agreed the two countries will create favourable conditions for Vietnamese businesses to carry out energy and mining projects in Laos and gave the nod to the implementation of power grid projects in central and southern Laos and border areas. Large Vietnamese groups will also be encouraged to open their rep. offices and increase investment in hydropower development, oil and gas exploration and mining in Laos . During their two-day stay in Laos , Minister Hoang and his entourage will pay a courtesy call to Lao Prime Minister Bouasone Buphavanh and work with Laos ’ Committee of Planning and Investment.-Enditem
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