Vietnam, Laos vow to deepen all-round ties, work toward $10bn trade

The pledge was made during talks in Vientiane on Thursday between General Secretary of the Communist Party of Vietnam To Lam and General Secretary of the Lao People’s Revolutionary Party and President of Laos Thongloun Sisoulith.

The meeting took place during Lam’s state visit to Laos at Sisoulith’s invitation.

Sisoulith described Lam’s visit as a particularly significant event in the history of bilateral relations, noting that Vietnam's high-level delegation led by Lam included Prime Minister Pham Minh Chinh and National Assembly Chairman Tran Thanh Man.

During their discussions, Lam and Sisoulith welcomed recent progress in bilateral cooperation and said ties were becoming deeper, more effective, and more substantive across multiple sectors.

They agreed that stronger economic linkages should serve as a central pillar of Vietnam-Laos relations in the new development phase, helping translate strong political trust into concrete economic outcomes.

Bilateral trade has expanded rapidly in recent years, with last year’s two-way trade rising 32.7 percent year on year to $3 billion.

During the 2021-25 period, trade between the two countries grew by an average of more than 20 percent annually, according to official data.

Looking ahead, the leaders agreed to take concrete steps to lift two-way trade to $5 billion by 2030 and then move toward the $10 billion target in subsequent stages.

To ensure progress, both sides agreed to establish a government-level monitoring and inspection mechanism to regularly assess cooperation outcomes and promptly address obstacles, ensuring that investment projects are implemented on schedule and in line with agreed commitments.

Beyond trade and investment, human resource development was identified as a long-term driver of economic cooperation.

Education and training, particularly the development of high-quality human resources, were reaffirmed as strategic priorities.

Local-level cooperation was also highlighted as an important channel for translating high-level agreements into practical results.

Sisoulith welcomed Lam’s decision to choose Laos as the first destination of his overseas visits after he was re-elected as Party chief last month, calling it a strong political signal of the high level of mutual trust between the two Parties and states.

Lam reiterated Vietnam’s consistent support for Laos’ development goals, stressing that strengthening economic, trade, and investment ties would remain a priority as both countries implement their socio-economic development plans for the 2026-30 period.

The two leaders also exchanged views on regional and global issues, agreeing to enhance coordination at multilateral forums and support ASEAN unity and centrality.

They noted that a stable regional environment is essential for sustained economic growth.

After the talks, Lam and Sisoulith witnessed the signing and exchange of additional cooperation documents between ministries, agencies, and localities of the two countries, expected to strengthen the legal framework of, and add momentum to, Vietnam-Laos strategic cooperation.

Following his visit to Laos, Lam left the country on Friday morning for Cambodia for a state visit at the invitation of Cambodian King Norodom Sihamoni.