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Laos, Vietnam sign new trade deal

Vietnam Minister of Industry and Trade Vu Huy Hoang and his Lao counterpart Khemmani Pholsena signed a new cooperation agreement on March 3 superseding the one that has been in effect since 1998.

The agreement provides for the abatement of trade tariffs for substantially all (more than 95%) of goods and services trade between the two nations.

Speaking at the signing ceremony in Vientiane, Minister Hoang said it lays the foundation for a heightened trade between the two countries in line with their fullest potential.

Lao Deputy Prime Minister Somsavat Lengsavat in turn echoed Hoang’s sentiments and expressed his pleasure with the agreement. He asked all of Laos’ relevant ministries to strictly give it effect.


Tags: Khemmani Pholsena, Laos, Somsavat Lengsavat, tariff, trade deal, vietnam,