Lao Vice State President to Visit Vietnam to Strengthen Ties

Lao Vice State President Pany Yathotou.

The visit will be made at the invitation of the Vietnamese Vice President Vo Thi Anh Xuan.

Yathotou will meet senior leaders and former leaders of Vietnam, hold talks with Vice President Vo Thi Anh Xuan to discuss measures to further strengthen the special relationship between the two countries and will have a number of other activities.

This year marks the Laos-Vietnam Year of Friendship and Solidarity, as well as the 45th anniversary of the signing of the Treaty of Friendship and Cooperation (July 18, 1977 – 2022) and the 60th anniversary of the establishment of diplomatic ties between Laos and Vietnam (September 5, 1962 – 2022).

Two-way trade turnover between Vietnam and Lao topped USD 403 million in the first quarter of this year, up 19.2% over the same period last year, VNA citied the Vietnamese Trade Office in Laos.

Of which, Vietnam's export revenue hit USD 130 million, down 18% over the same period, while its imports from Laos picked up 52.4% year-on-year to USD 272 million.

Commodities that enjoyed high growth in the period include fertiliser, petrol, electric wire and cable with year-on-year rises of 161.6%, 142.3% and 42.5%, respectively.

Items that experienced a drop in export revenue include coffee with 80.7%, common metals and finished products with 76.6%, wood and wooden products with 49.7%.

Data from the trade office showed a rise in revenue of all items imported from Laos. Notably, Vietnam spent more than USD 28 million importing Lao ore and minerals, 405% higher than the same period last year.

It attributed the decrease in Vietnam's export turnover and rise in import turnover in the first quarter of this year to the fact that prices of products imported from Laos have surged due to a scarcity in supply caused by the Russia-Ukraine conflict.

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