Vietnam, Laos develop cross-border trade initiative

Monday 29 September 2014 14:20 CET | News

Vu Huy Hoang and Khemmani Pholsena, Vietnam and Laos Ministers of Industry and Trade, have signed a memorandum of understanding on border-trade linkage, targeting USD 2 billion in 2-way trade by 2015.

In 2013, bilateral trade reached USD 1.25 billion, up by 27%, as compared to 2012, according to Vietnam News Agency (VNA), cited by

The figure hit USD 888 million during H1 2014, an increase of more than 33%. It is expected to reach USD 1.5 billion by the end of 2014, and USD 2 billion by 2015.

The ministers have said the 2 governments need to devise more incentives and invest in the development of joint border markets.

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Keywords: Vietnam, Laos, Development, cross border, trade, industry, minister, bilateral, government
Categories: Payments & Commerce
Countries: World
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