(KPL) The 47th Meeting of the Laos-Vietnam Intergovernmental Committee on Bilateral Cooperation successfully concluded on January 9, 2025.

The meeting was co-chaired by Prime Minister Sonexay Siphandone of Laos and Prime Minister Pham Minh Chinh of Vietnam, with the participation of senior Party and government leaders, ministers, and representatives from relevant sectors of both countries.

Mr. Phet Phomphiphak, Minister of Planning and Investment and Chairman of the Laos-Vietnam Cooperation Committee, highlighted the meeting’s outcomes:

Both sides highly valued the implementation of agreements and bilateral cooperation efforts over the past year, which have delivered tangible benefits to the people of Laos and Vietnam. Key achievements include: strengthened political and diplomatic ties, reflected in regular high-level exchanges and close coordination across all levels; enhanced defense and security cooperation, emphasizing effectiveness, coordination, and mutual trust; and notable economic progress, with significant improvements in trade relations and the implementation of bilateral economic agreements.

Bilateral trade between Laos and Vietnam in 2024 is expected to reach USD 2.2 billion, marking a 34% increase compared to 2023.

In terms of investment, the Lao government approved 12 projects by Vietnamese enterprises in 2024. Both sides are exploring mechanisms to enhance cooperation and investment for greater efficiency and mutual benefit.

The meeting reaffirmed the unwavering commitment of Laos and Vietnam to deepen their special relationship, fostering collaboration across various sectors for the well-being of their peoples and the sustained development of both nations.

KPL