Lao-Viet Expo promotes trade and produce
Lao-Viet Expo promotes trade and produce
Around 350 business units from Laos and Vietnam are displaying booths at the Viet-Lao Expo 2014 at the Lao International Trade Exhibition and Convention Centre (Lao-ITECC).
The expo opening ceremony took place yesterday, with Lao Deputy Minister of Industry and Commerce Mr Siewsavath Savengseuksa, Vietnamese Deputy Minister of Industry and Commerce Mr Nguyen Cam Tu and the Vietnamese Ambassador to Laos Mr Nguyen Manh Hung among the dignitaries in attendance.
The event aims to promote trade between Laos and Vietnam and showcase the products of the two nations to boost sales and trade volumes in the years ahead.
Furthermore, the expo is also a good opportunity for Lao and Vietnamese business people to exchange their experience in trading strategies and seek trade partners to increase their volume of trade.
The event also aims to stimulate business sector interest in the policies and preparations to integrate with the region and international community as part of the upcoming Asean Economic Community in 2015.
At the opening ceremony, Mr Siewsavath said the trade value of the two countries is expected to reach US$2 billion in 2015 and US$5 billion in 2020.
The ministries of industry and commerce in Laos and Vietnam both have measures and policies to stimulate trade and development, in particular policies to ease barriers to trade among the Lao and Vietnamese business sectors, he noted.
He highlighted that two way trade value reached over US$1 billion in 2013, in particular in the first quarter of this year, when the trade value of the two countries hit US$766 billion, an increase of 51 percent compared to the same period last year.
Mr Siewsavath said this year the number of business units in attendance has risen to 350, including 230 Lao booths and 120 Vietnamese booths, with a wide variety of products on sale and display.
The displayed products focus on agriculture, processed foods, clothes and fashion, electronics and household white goods, machinery and industrial equipments, construction equipment and materials, handicrafts, consumer goods, pharmaceuticals, health equipment, investment, tourism and commercial services.
“This expo will create opportunities for the business units of the two countries and allow them to seek trade partners in order to increase the volume of trade and upgrade the quality of businesses and proprietors,” Mr Siewsavath said.
vientiane times
