Vientiane (VNA) - The Vietnam-Laos trade fair (VIETLAO EXPO 2019) kicked off at the Lao International Trade Exhibition and ConventionCentre (Lao-ITECC) in Vientiane on June 27.

Addressing the event, Vietnamese Deputy Minister of Industry and Trade Cao QuocHung highlighted the flourishing economic-trade cooperation between the twocountries in recent years.

Hungstressed the need to expand industry and trade linkage, saying that the twocountries should focus on implementing their signed commitments and tradeagreements, and promoting the development of traffic and trade infrastructure.

The two countries’ ministries of industry and trade agreed to jointly build aproject on Vietnam-Laos trade development in 2017-2026, with a vision to 2035;and signed a memorandum of understanding on establishing a website onVietnam-Laos economic and trade cooperation, he noted.

The Vietnamese Ministry of Industry and Trade approved a master plan to develop the Vietnam – Laos border market network by 2020 and a project todevelop warehouses at border gates of Vietnam- Laos to 2025, with a vision to 2035, Hung said, adding that these areimportant to further strengthen the bilateral trade ties.

In his speech, Lao Deputy Minister of Industry and Trade Phanhthong Phitthoummaaffirmed the annual VIETLAO EXPO has contributed to enhancing comprehensivecooperation as well as economic and trade bond between the two nations.

It also helps expand exchange of goods between the two sides, and introduce theirbrand names and products, and serves as a venue for Vietnamese and Laosenterprises to seek partners, he said.  

TheVietnam-Laos trade turnover in 2018 hit approximately 1.1 billion USD, up 16percent from the previous year. In the first four months of 2019, the two-waytrade reached 381.8 million USD, up 10.95 percent year on year.

This year’s event features 240 booths from 180 enterprises of the two nations.

Vietnamese firms are mainly exhibiting pharmaceutical products and medicalequipment; industrial machinery, construction material,agro-forestry-aquaculture products, textiles, handicrafts and decorations,plastic and consumer goods.

Throughthe event, Vietnam looks to foster export of goods to Laos and the northeastregion of Thailand.

The expo will last until July 1.-VNA