Strengthening Vietnam-Laos Trade Relations: A Commitment to Collaboration
On August 4, 2025, Minister of Industry and Trade Nguyen Hong Dien welcomed his Lao counterpart, Malaithong Kommasith, to Hanoi for pivotal discussions aimed at enhancing economic cooperation between the two neighboring countries. This meeting highlighted Vietnam’s commitment to a cooperative spirit and its readiness to collaborate closely with Laos through designated agencies, ensuring that all engagements comply with legal frameworks and are mutually beneficial.
Notable Progress in Bilateral Trade
One of the key outcomes of the recent talks was a noteworthy acknowledgment of the progress in trade relations. Last year’s bilateral trade reached an impressive US$2.25 billion, marking a significant increase of 38.2% from previous years, and surpassing the US$2 billion milestone for the first time. In the first half of 2025 alone, the trade turnover between Vietnam and Laos hit US$1.78 billion, reflecting a staggering year-on-year rise of 92.2%. Interestingly, Laos continues to enjoy a trade surplus with Vietnam, which showcases the robust trade activity between the two nations.
A Platform for Business Connectivity
Both ministers reflected on the strengthened ties in trade promotion, particularly through events like the Vietnam-Laos Trade Fair held in Vientiane in July. This fair featured 250 booths and was a vibrant platform that attracted considerable participation from enterprises across both countries. Such events are vital not only for showcasing products but also for fostering relationships that can lead to fruitful business ventures.
Enhancing Market Insights and Strategic Planning
During the talks, Minister Dien urged his Lao counterpart to enhance information sharing regarding market demands, import and export lists, and contact details of key enterprises. This informational exchange is critical for creating effective linkages with major importers and distribution systems in Vietnam, thereby facilitating smoother trade operations. He further recommended that Laos develops a comprehensive plan for power projects intended for export to Vietnam. This strategic approach would simplify Vietnam’s overarching plans concerning electricity imports, aligning with its national energy development strategy.
Advancing Energy Cooperation
The ministers addressed key agreements pertaining to electricity and coal trading. They agreed to expedite the implementation of the agreements signed on January 9, 2025, and the subsequent amendment protocol from July 9. Moreover, both countries are set to convene the 13th Border Trade Development Cooperation Conference later in the year. This conference, to take place in Thanh Hoa province of Vietnam, aims to review past achievements and tackle any bottlenecks impeding cross-border trade.
Knowledge Sharing and Development Initiatives
In their discussions, the Lao delegation expressed a desire to learn from Vietnam’s experiences in various areas such as state-owned enterprise reforms, public-private partnerships (PPP), and the equitization process. Additionally, Laos broached the topic of overcoming challenges faced by sugar exporters to Vietnam under the framework of the Vietnam-Laos trade agreement for 2021-2022. The potential for partnerships in constructing a petroleum storage facility and developing a shared industrial-economic zone was also explored, which could greatly benefit both nations.
A Solid Foundation for Future Collaboration
In a display of keen diplomatic engagement, Minister Nguyen Hong Dien reaffirmed Vietnam’s cooperative stance and readiness for close collaboration through designated agencies. This approach is designed to ensure that all partnerships adhere to legal regulations while maximizing benefits for both Vietnam and Laos. The two ministers concluded their discussions with an agreement to continue mutual visits and enhance inter-agency coordination, thereby establishing a solid foundation for elevating their bilateral economic, trade, and energy relations to new heights.
As the relationship between Vietnam and Laos continues to strengthen, it creates exciting opportunities for both countries, paving the way for sustainable economic growth and deeper regional integration. The commitment expressed by both ministers signals a promising future filled with collaborative initiatives that could yield significant benefits for their populations.