(KPL/VNA) The Vietnam - Laos trade fair (VIETLAO EXPO 2023), the largest annual trade promotion event co-organised by the countries’ ministries of industry and trade, opened in the Lao capital city of Vientiane on July 27.

Lasting until July 31 and attracting hundreds of Vietnamese and Lao firms, the fair features approximately 250 booths. The Vietnamese section comprises 120 standard booths run by 60 enterprises from various sectors such as pharmaceuticals and medical equipment, agro-forestry-fishery, food processing, garments, handicrafts, interior and exterior decorations, plastics, and consumer products.

Within the course of the expo, there will also be product showcases, business transactions, face-to-face and online business networking conferences, and cultural exchange performances.

In his speech at the opening ceremony, Vietnamese Ambassador to Laos Nguyen Ba Hung highlighted that economic cooperation, a long-term foundation for the bilateral relationship, is developing steadily. He expressed his pleasure to witness this year's fair being held on a large scale, showcasing a diverse and rich array of high-quality products that cater to the demands of consumers in both markets. This demonstrates the dedication and confidence of the Vietnamese and Lao business communities towards the development of their countries’ trade relations, he stated.

Lao Minister of Industry and Trade Malaythong Kommasith emphasised that the expo is an important event, serving as an opportunity for the sides’ businesses to enhance their trade, investment, and tourism cooperation. This not only contributes to the socio-economic development of each country and increases their trade volume, but also deepens the great friendship, special solidarity, and comprehensive cooperation between the two parties, states, and peoples.

In 2022, the Vietnam-Laos trade turnover exceeded 1.63 billion USD, an increase of 18.9% year-on-year. In the first six months of 2023, the figure amounted to 835 million USD, an annual rise of 1.3%.

KPL