2022 Vietnam-Laos Trade Fair Officially Started in Vientiane, Laos

The Vietnam-Laos 2022 Trade Fair is the largest trade promotion event held annually by the Ministries of Industry and Commerce of both countries in the Laotian capital, with the aim of promoting exports and expanding the sales network of Vietnamese products to Laos and the northeast region of Thailand.

It also provides a venue for producers and investors from Vietnam and Laos to share experiences, establish partnerships and businesses, and promote technology transfer.

In his opening speech, Vietnamese Vice Minister of Industry and Trade Do Thang Hai stressed that this is one of the large-scale trade promotion activities to practically celebrate the Year of Friendship and Solidarity between Vietnam and Laos in 2022. .

The five-day event has 250 pavilions, of which 120 are in charge of about 80 Vietnamese companies that exhibit their pharmaceutical products; medical equipments; agroforestry-aquaculture products and processed foods; textiles; interior and exterior crafts and decoration; plastics and consumer products.

Various business meetings and artistic and cultural exchange programs will be held within the framework of the exhibition.

The Laotian market is considered an important gateway for Vietnamese companies to reach other ASEAN countries.

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In recent times, the Bilateral Trade Agreement and the Vietnam-Laos Border Trade Agreement have helped promote trade in goods and services between the two countries. Its two-way trade volume reached 4.5 billion dollars in the 2018-2021 period with an average annual growth of more than 10%.

It also offers a place for producers and investors from Vietnam and Laos to share experiences.

Last year, trade reached 1,370 million dollars, with a year-on-year increase of 33.3%.

In the first seven months of 2022, two-way trade reached almost 949 million dollars, 24.2% more than in the same period of 2021. In particular, exports from Vietnam to Laos have increased for the last four consecutive months, and have experienced a strong increase of 33.9% in July.

Article republished from the Vietnamese state media VNA as part of an agreement between both parties to share content. Link to original article: https://en.vietnamplus.vn/vietnam–laos-expo-helps-boost-bilateral-trade/236308.vnp