Lao market favored by many Vietnamese investors

The Lao market remains a destination of many Vietnamese investors as Laos recognizes most of the quality certifications from foreign exporting countries, according to Le Thi Phuong Hoa, Vietnamese Trade Counsellor in Laos.

Also, Vietnamese goods exported to Laos are eligible for zero tariffs and vice versa under the ASEAN Trade in Goods Agreement (ATIGA), the Vietnam-Laos trade agreement and border trade agreements.

Vietnam and Laos share a borderline of more than 2,300 km running through 10 cities and provinces of each nation. Last year, two-way trade reached 1.37 billion USD, a surge of 33.3% against 2020, data from the Vietnamese Ministry of Industry and Trade showed. In the first half of this year, imports from Laos soared 45.3% year-on-year to 514.6 million USD. Key imported items included rubber, wood and timber products, fertilizers, vegetables, ores and minerals.

Source: en.vietnamplus.vn

 

Photo source: Dreamstime.com


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