Promoting Vietnam-Laos cooperation

State President Nguyen Minh Triet on August 24 started an official visit to the Laos People’s Democratic Republic, which is expected to bring the bilateral relations to a new height.

Laos has made a great effort to weather the global economic crisis and deal with natural disasters. Its economy has seen a significant increase in the first half of 2010 with an estimated growth rate of 7.6 percent; an export turnover of US$580 million, making up 55 percent of the year’s target; and an import turnover of US$526 million.

The Lao Government has introduced incentive policies to stimulate investment and production and control inflation. In the first half of 2010, the country attracted US$549 million in FDI.

Laos has expanded its foreign relations and has become a reliable partner of countries all over the world. It has also taken an active part in international conferences and contributed greatly to cooperation programmes. The country has also raised its profile in the Association of Southeast Asian Nations (ASEAN).

Relations of long-lasting friendship, special solidarity and comprehensive cooperation between Vietnam and Laos have developed strongly in recent times. The two countries are effectively implementing their high-level agreements, including the minutes of the 23rd session of the Vietnam-Laos inter-governmental committee, and an agreement on economic, cultural, scientific and technological cooperation.

They have regularly conducted visit exchanges, especially the official visit to Laos by the General Secretary of the Communist Party of Vietnam, Nong Duc Manh, in April, 2010, and Lao Vice President Bounnhnag Volachit’s visit to Vietnam a month earlier.

The two countries have coordinated closely in organising major celebrations such as President Ho Chi Minh’s 120th birthday (May 19), a contest to compose songs about President Ho Chi Minh, and Vietnam’s Reunification Day (April 30).

Under the border demarcation agreement, which is scheduled to be completed in 2014, many border markers have now been planted.

Vietnam and Laos are currently compiling a book on the history of Vietnam-Laos combat alliance during the 1930-1970 period.

They have also introduced many policies to promote economic cooperation. By May 2010, the Laos Government had licensed 219 Vietnamese-invested projects with a total capital of US$2.4 billion, 12 of them (worth US$168 million) were licensed in the first five months of 2010.

Between January – June 2010, two-way trade turnover reached US$212 million (up by eight percent compared to the same period last year), of which US$91 million came from Laos’s exports to Vietnam.

Both countries have expanded their cooperation to more fields such as transportation, health care, culture, sports, tourism, and education. They are now working closely together to put into action a joint project to improve the quality of education and human resources development.

Many Vietnamese and Lao provinces have also introduced programmes in economics and trade, in an effort to meet their demands for development and to exploit their own natural resources and workforce.

In addition, the two countries have promoted the exchange of information on international issues relating to ASEAN operations, multilateral and bilateral cooperation forums, and the use of water resources in the Mekong River region.

Vietnam is willing to share its experiences in organising major events and joining the World Trade Organisation (WTO) with Laos. Both countries are working closely with Cambodia to implement the agreements reached on the development triangle.

President Triet’s visit takes place at a time when Vietnam is making every effort to speed up administrative reforms, stimulate economic growth, stabilise the macro economy, control inflation and ensure social welfare. With the country’s increasing role in the world as ASEAN chair 2010, its expected that Mr. Triet’s visit will be a great success. – VOV

Tags: Vietnam Laos cooperation