Strengthening financial cooperation between Vietnam and Laos

Vietnam and Laos signed two financial agreements in Hanoi on December 12 to boost bilateral cooperation in the coming years.

They included an agreement on financial regulations and the management of Vietnamese non-refundable aid for Laos, and a cooperative agreement between the two financial ministries for the 2011-2015 period.

Signatories to these documents were Vietnamese Financial Minister Vuong Dinh Hue and his Lao counterpart Phuphet Khamphounvong.

Minister Hue noted financial cooperation between Vietnam and Laos has been strengthened and developed strongly. He said the many agreements signed recently will help promote mutual understanding between the two finance ministries and improve the capacity of the Lao ministry.

For his part, Minister Phuphet praised Vietnamese experts for assisting the Lao financial sector and expressed his hope that the two sides will continue to promote their friendship and cooperation.

Both host and guest briefed each other on the economic and financial situations in their respective countries and discussed measures to boost future bilateral cooperation.

On behalf of the Lao State, Minister Phuphet presented the Isala Medal (Independence Medal), third class, to the Vietnam University of Finance and Marketing.

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