Laos sets to boost trade with Vietnam

Laos has set a target of boosting two-way trade with its strategic partner of Vietnam to 1 billion USD by 2010 and double the figure by 2015, said Laos’ Head of the Foreign Trade Policy Department Bounsom Phomvihane.

According to statistics by Laos’ Ministry of Industry and Commerce (MIC), trade value between Vietnam and Laos reached 99 million USD in the first eight months of this year, he said.

Laos exports mainly wood products, pharmaceutical materials, metal, chemical coal and garments to Vietnam while imports garments, electric equipments, seafood and other consumer products.

Laos has also intended to boost trade value exchange with its other strategic partner of China, especially the country’s Yunnan province. The two-way trade between Laos and the province is targeted to reach 150 million USD by 2010.

Laos has signed trade agreements with 50 countries and territories in the world, according to the MIC.

VNA

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