Laos-Vietnam Trade Fair to promote business

The Laos-Vietnam Trade Fair to be organised by the Lao Front for National Development (LFND) in Vientiane is aimed at boosting trade, investment and business partnerships between the two nations.
The event will be held during August 11-13 as part of events to mark the Laos-Vietnam Solidarity and Friendship Year 2022, the 72nd anniversary of the establishment of the LFND and the 31st National Constitution Day.
The products to be displayed at the fair include handicrafts, agricultural goods, food and beverages. There will also be an exhibition with photos depicting the cooperation and Friendship between the two countries.
A question and answer session to be organised as part of the event will test  the knowledge of people about the Laos-Vietnam friendship, the LFND and general education. The winners will get prizes from the organiser.
Besides, there will be a food contest on the final day of the event that is being hosted by the LFND in cooperation with the Vietnamese Association and Lao and Vietnamese business partners.
The organiser has invited all sectors including government agencies, civil organisations, entrepreneurs, vendors and individuals, to participate in the event.
The fair is an opportunity for businesses from Laos and Vietnam to meet and exchange opportunities and to promote their products. It is also an opportunity for businesses to introduce outstanding products and to showcase their achievements in the development of the economies of both countries.
Trade between Laos and Vietnam is expected to continue to grow this year despite both countries grappling with the impact of the Covid-19 pandemic, inflation and rising fuel prices on the global market.
The governments of the two countries recently agreed to increase the value of year-on-year two-way trade by 10 percent to 15 percent this year. The value of two-way trade touched US$1.34 billion in 2021.
The exports and imports between Laos and Vietnam between January and June this year touched US$853 million. Imports during this period were worth US$233.3 million while exports were worth US$700 million, according to the Ministry of Industry and Commerce.
After China and Thailand, Vietnam is a major foreign investor and a key trading partner of Laos.

By Times Reporters
(Latest Update August 10, 2022)