Vietnam - Laos trade turnover rises by 12% in the first quarter

Minister of Industry and Trade of Vietnam Nguyen Hong Dien (left) and Minister of Industry and Trade of Laos signed the new Vietnam - Laos Trade Agreement.

Of which, Vietnam’s exports to Laos reached more than 145 million USD, up 13.5% over the same period last year. Main export items include petroleum of all kinds; transport vehicles and spare parts; and products from iron and steel.

In the opposite direction, Vietnam’s imports from Laos reached 331.6 million USD, up over 11% over the same period last year. Some main import products include rubber; wood and wood products; and ores and other minerals.

Since the beginning of 2021, economic and trade cooperation between Vietnam and Laos has been increasingly flourished and grown strongly thanks to the close coordination between ministries, branches and localities, especially the connection between the Ministry of Industry and Trade of Vietnam and the Ministry of Industry and Trade of Laos.

With huge development potential, Vietnam - Laos trade turnover not only grows at 10% - 15% per year but moves towards stable and sustainable development. In 2023, bilateral trade turnover between Laos and Vietnam reached 1.6 billion USD./.