Officials from Laos and Vietnam exchange signed cooperation documents in Vientiane, witnessed by Prime Ministers Sonexay Siphandone and Pham Minh Chinh.

Laos, Vietnam ink 2026 cooperation plan as trade hits nearly US$3 billion

Laos and Vietnam approved their 2026 cooperation plan in Vientiane on December 3, strengthening economic ties as the value of bilateral trade climbs towards nearly US$3 billion this year.
The strong progress was acknowledged when Prime Minister Sonexay Siphandone and his Vietnamese counterpart, Pham Minh Chinh, co-chaired the 48th Intergovernmental Committee, where the two sides reviewed the progress made under high-level agreements, the 2025 cooperation plan, and the 2021-2025 cooperation strategy.
The two heads of government agreed that cooperation in politics, foreign affairs, national defence, and security continues to provide a stable foundation for expanding economic activities.
They noted that the rapid growth of bilateral trade reflects the effectiveness of existing agreements and the commitment of both governments to deepen cooperation.
Two-way trade is expected to reach about US$3 billion by the end of this year, an increase of one and a half times compared to 2024 and above the targets set by both sides.
From January to October, the trade value hit US$2.3 billion, with Laos recording a trade surplus of US$904 million.
During their talks, the two sides vowed to boost bilateral trade by 10-15 percent in 2026, work towards an annual trade value of US$5 billion in the near future, and move towards a target of US$10 billion in the long term. According to the Vietnamese publication VnEconomy.
Vietnamese investment in Laos also continues to expand. Registered investment reached US$6.21 billion in 2025, making Vietnam the largest investor among the 85 countries where it has investments.
Several major projects, particularly in the energy sector, such as the Chưong Sơn and Savan 1 wind power developments, are steadily advancing.
According to the VnEconomy, the two prime ministers agreed to raise bilateral ties to a new level of “great friendship, special solidarity, comprehensive cooperation, and strategic cohesion”, with political relations as the core; defence, security and economic cooperation as key pillars; and science, technology, and education and training as breakthrough areas.
Human resource development remains another priority. Vietnam continues to offer scholarships and professional training for Lao nationals, with more than 10,000 Lao individuals currently studying in Vietnam.
Both sides agreed that cooperation in education plays a vital role in supporting future development.
The meeting also set directions for the 2026-2030 cooperation strategy, focusing on economic ties, energy cooperation, investment facilitation, transport links, agriculture, and closer coordination between Lao and Vietnamese border provinces.
The two governments reaffirmed their commitment to strengthening comprehensive cooperation in all areas.
The success of the meeting further deepens the great friendship, special solidarity, and comprehensive cooperation between Laos and Vietnam, supporting continued progress in trade, investment, and development.
The two prime ministers witnessed the signing of the meeting minutes, the 2026 cooperation plan, the cooperation agreement for 2026-2030, and several other cooperation documents.

By Times Reporters
(Latest Update December 5, 2025)