Partnership agreement to cement relationship with Laos

Vietnamese and Lao leaders sign the Viet Nam-Laos partnership agreement for the year 2013, Ha Noi,  December 19, 2012 – Photo: VGP/Le Son

The agreement was one of the outcomes of the 35th meeting of the Viet Nam-Laos Inter-governmental Committee for Economics, Culture, and Science and Technology Cooperation held in the northern province of Vinh Phuc.

During the meeting, both sides discussed a number of cooperation fields, including education and training, culture, science and technology, mining, energy and investment.

Under the terms of the economic partnership, both sides agreed to review the activities of Vietnamese investors in Laos and to create favorable conditions to implement investment projects and take punitive measures against enterprises which failed to deliver on promises.

The two sides requested enterprises involved in the hydro-power plant Sekaman 3 to speed up the schedule so that commercial operations could be started soon.

They also targeted an increase of 25% in two-way trade turnover next year.

Both sides agreed to continue preferential taxation treatment for goods made in each country.
They pledged to build a common stable borderline and complete border demarcation in 2014.

By Ngoc Van