A new cooperation agreement on trade between Laos and Vietnam was signed in Vientiane on 3 March between Mrs. Khemmani PHOLSENA, Ministry of Industry and Trade and her Vietnamese counterpart Vu Huy Hoang

The agreement replaces the one that has been in effect since 1998 and provides for the abatement of trade tariffs for the lion’s share (more than 95%) of traded goods and services between the two nations.

Speaking at the signing ceremony, Mr. Hoang said that it lays the foundation for trade between the two countries to be developed to its fullest potential.

Deputy Prince Minister Somsavat LENGSAVAD in turn echoed Hoang’s sentiments and expressed his pleasure with the agreement. He asked all of Lao’s relevant ministries to strictly abide by the new agreement.

KPL