Vietnam and Laos will cut import tax rates, streamline customs procedures, and extend their list of duty free goods with a view to accelerating the two-way trade turnover between the two countries which is expected to reach US $1 billion by 2010.
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Permanent Deputy PM Nguyen Sinh Hung leads the Vietnamese Government delegation to attend the meeting
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A mid-year meeting of the Vietnam-Laos Inter-governmental Committee was held in Nghe An Province in the northern part of Central Vietnam on August 1-3.
Reviewing the implementation of their agreements on economic, cultural, scientific, and technological cooperation inked on January 8, the two sides recognized the close coordination between respective ministries, sectors and localities which have strengthened the special ties between the two countries.
Vietnam’s export turnover to Laos was US $196 million in the first half of 2009. The country is among the three biggest investors in Laos. By the end of June, the Lao Government had licensed 186 Vietnamese-invested projects worth over US $2 billion in total.
The two sides signed six cooperative agreements in such areas as industry-trade, transportation, reception and use of experts, food safety and hygiene.
The two countries also pledged to work together to raise training quality of their guest students.
Relevant ministries and agencies are shaking hands in the preparatory work for the 25th Southeast Asian Games (SEA Games) which will be hosted by Laos later this year.
Both sides approved to cooperate with their relevant agencies to design projects and construct commemorative works dedicated to the former Vietnamese President Ho Chi Minh and successfully organize a Vietnamese Cultural Week in Laos scheduled in 2009./.