Strengthening connectivity and support between the two economies of Vietnam and Laos

General Secretary and President To Lam and General Secretary and President of Laos Thongloun Sisoulith review the Honor Guard of the Vietnam People's Army.

The special relationship between Vietnam and Laos is built and developed on the basis of the interests of the people of both countries. The two Parties, the two States, and the people of Vietnam and Laos are always steadfast in preserving, nurturing, and developing the Vietnam-Laos and Laos-Vietnam relationship, making it ever deeper, more enduring, and bringing more practical benefits to the people of both countries; while also strengthening education so that the younger generation of both countries understands the true nature of this special relationship, enabling them to continue to inherit and develop it.

Against the backdrop of rapidly changing, complex, and unpredictable regional and global situations, General Secretary and President of Laos Thongloun Sisoulith, along with his wife and a high-level delegation from the Lao Party and State, have successfully concluded a state visit to Vietnam from September 10-13 at the invitation of General Secretary and President To Lam and his wife.

The reporter had a brief exchange with Thongsavanh Phomvihane, Member of the Central Committee and Head of the Central Committee's Foreign Affairs Department of the Lao People's Revolutionary Party, about the results, significance, and importance of the visit.

When asked about the significance and importance of the results of the state visit to Vietnam by the General Secretary and President of Laos, Thongloun Sisoulith, to the great friendship, special solidarity, and comprehensive cooperation between the two countries, the Head of the Central Committee's Foreign Affairs Department of the Lao People's Revolutionary Party affirmed that the results of the visit are a commitment that the two countries will continue to prioritize each other, continue to stand shoulder to shoulder, and always support each other in the cause of national renewal, protection, construction, and development in the present and in the future.

Mr. Thongsavanh Phomvihane stated that the two Parties, the two States, and the people of Laos and Vietnam need to work together to protect, nurture, and build the great friendship and special solidarity between Laos and Vietnam, ensuring its continued development, entering a new phase, deepening and adapting to reality, and yielding effective results in all fields.

Mr. Thongsavanh Phomvihane emphasized that, based on promoting the spirit of independence, self-reliance, self-strength, equal cooperation, and harmonious interests, in accordance with the characteristics of the Laos-Vietnam relationship and international practice, the two countries always prioritize, support, and create favorable conditions for each other to cooperate for prosperous development, contributing to building peace and cooperative development in Southeast Asia as well as the world.

According to the Head of the Central Committee's Foreign Affairs Department of the Lao People's Revolutionary Party, the political relationship between Laos and Vietnam helps to guide the overall direction of cooperation between the two countries; Laos and Vietnam always pay close attention to cooperation on strategic issues, guidelines, and policies related to the stability and development of each country; the two countries always maintain visits and contacts between high-level leaders of the two Parties and States in various forms.

Economically, both sides agreed to strive to promote and create breakthroughs in upgrading economic, cultural, educational, scientific, and technological cooperation to match the political relationship, while maintaining the capabilities and strengths of each country.

However, to achieve this goal, Mr. Thongsavanh Phomvihane suggested that in the coming period, both sides need to work together to promote the organization and implementation of agreements and cooperation memoranda between the two governments, between ministries, departments, localities, and businesses of the two countries; continue negotiations and finalize the signing of new cooperation memoranda and agreements that are in line with the actual situation; and build a legal system that facilitates cooperation between the two countries.

Laos and Vietnam need concrete measures to strengthen connectivity and support between the two economies, and between the three economies of Laos, Vietnam, and Cambodia, especially in legal, financial, transportation infrastructure, electricity, telecommunications, and tourism connections. This includes encouraging suitable international partners to participate in and support strategic connectivity projects between the two countries.

National Assembly Chairman Tran Thanh Man met with General Secretary and President of Laos Thongloun Sisoulith.

Laos and Vietnam need to focus on improving the quality and effectiveness of investment cooperation, concentrating on implementing important projects to ensure progress and quality; strengthening exchanges and coordination in macroeconomic management between the two countries; prioritizing policies to encourage businesses from both countries to invest in areas where both sides have strengths, especially the energy sector (clean energy, renewable energy), digital transformation, technology, agriculture, minerals, tourism, and promoting the implementation of the border economic zone model along the East-West Economic Corridor.

The Head of the Central Committee's Foreign Affairs Department of the Lao People's Revolutionary Party emphasized that Laos and Vietnam must strive to implement all measures to maintain a bilateral trade growth rate of 10-15% per year; promote trade promotion activities, build brands and distribution channels for Vietnamese and Lao goods; and promote the use of the local currencies of the two countries in business, trade, and investment activities.

Vietnam is creating all favorable conditions for Laos to import and export goods through Vietnamese seaports.

TB (according to VNA)

Source: https://baohaiduong.vn/tang-cuong-ket-noi-va-ho-tro-giua-hai-nen-kinh-te-viet-nam-va-lao-393272.html