Laos, Vietnam cement ties, ink cooperation deals

(Khamphan Latsamouth in Hanoi): -- Prime Minister Thongloun Sisoulith and his Vietnamese counterpart Nguyen Xuan Phuc agreed to deepen bilateral ties during their talks in Hanoi on Saturday, when eight cooperation agreements were signed.
The Lao prime minister was in the Vietnamese capital for a visit and to co-chair the 42nd meeting of the Laos-Vietnam Governmental Cooperation Committee from January 2-4 at the invitation of PM Phuc, the Lao Ministry of Foreign Affairs said in a press statement.

The cooperation agreements whose signing the two premiers witnessed included a cooperation agreement between Laos and Vietnam, a communiqué on the 42nd meeting, an extradition treaty, and an electricity trading agreement for five hydropower projects.
At the talks, both sides agreed on a work plan for 2020, vowing to work together to fulfil the cooperation direction given by the two parties’ Politburos as well as fulfilling cooperation agreements reached by the two governments.
In this regard, special attention will be paid to intensifying cooperation in politics, national defence and security, and improving cooperation mechanism efficiency. Focus will also be placed on realising a joint statement and other cooperation agreements. 
The meeting accorded that both sides should attach particular attention to fulfilling a memorandum of understanding on cooperation in transportation, joint development of hydropower projects in Laos, electricity grid connectivity, and electricity trade.  
Meanwhile, both sides agreed to increase joint efforts, pledging to create conditions to better facilitate trade and investment as well as facilitating cooperation in education, human resource development, and other untapped areas of potential. 
The two prime ministers hailed the achievements of bilateral cooperation in 2019 and during the previous years.
Despite the global economic downturn, two-way trade reached US$940 million during the period January-October 2019, and the figure is projected to top US$1.1-1.2 billion for the whole year, surpassing the target of US$1 billion, the Vietnam News reported.
Vietnamese businesses have invested in 413 projects in Laos with a total value of US$4.2 billion, making Vietnam the third largest foreign investor in Laos.
Laos and Vietnam have maintained regular contact and carried out reciprocal visits by delegations at all levels.
By the end of August, the countries had arranged exchange visits by more than 120 delegations, about 60 of which were at the deputy minister or higher level. Both sides successfully organised the 41st meeting of the Laos-Vietnam Governmental Cooperation Committee co-chaired by the two prime ministers, according to the Vietnam News.
Cooperation in defence, security and foreign affairs has continued to record new development.
Vietnam provided VNĐ3.25 trillion (US$140 million) in non-refundable aid for Laos each year from 2016-2020, the Vietnam News reported.
Vietnam has been the largest scholarship provider for Laos, helping the country to develop its human resources.
Currently, more than 16,600 Lao nationals are studying in Vietnam, according to the Lao ministry.
The heads of the two governments highly valued the successful outcome of the meeting, saying it will further enhance the great friendship, special solidarity and comprehensive cooperation between the two neighbours.
Laos and Vietnam have enjoyed the long-standing special solidarity created and nurtured by Presidents Ho Chi Minh, Kaysone Phomvihane and Souphanouvong, and generations of the two countries’ leaders and people.
During their visit, PM Thongloun and his delegation also called on General Secretary of the Communist Party of Vietnam’s Central Committee and President Nguyen Phu Trong, and Chairwoman of the National Assembly Nguyen Thị Kim Ngan.

By Times Reporters
(Latest Update January 6, 2020)