Viet Nam, Laos Ink Agreement of Cooperation in 2007

Vietnamese PM Nguyen Tan Dung's visit to Laos last month boosts ties of the two countries

An agreement on economic, commercial, cultural and scientific-technological cooperation between Viet Nam and Laos in 2007 has been signed by Vietnamese Deputy Prime Minister Nguyen Sinh Hung and his counterpart Somsavat Lengsavad.

The agreement was reached at the 29th working session of the Viet Nam-Laos Cooperation Joint-Committee convened in Ha Noi on Jan. 7.

At the session, Lao Standing Deputy PM Lengsavad praised Viet Nam's assistance to Laos in training cadres and developing infrastructure, irrigation systems and livestock breeding, thus helping Laos develop its agriculture and secure against food shortages.

He said trading between the two countries in 2006 reached US$240 million, increasing by 48 percent year-on-year. Bilateral cooperation in other fields such as investment, banking, post office and telecommunications, transportation and electricity also obtained good results.

Vietnamese Deputy PM Nguyen Sinh Hung suggested that the two sides should accelerate development in electricity and mining projects as well as projects in post office and telecommunication, transportation, banking services, and developing border gates for trade promotion.

He set a target of 1 billion USD in two-way trade turnover in 2010, and US$2 billion five years later. He also stressed that businesses of the two countries should aim to plant 100,000 ha of rubber trees in Laos by 2010, thus providing 300,000 jobs

Source: VNA

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