VINACHEM

The conferencealso asked for the issue of regulations and policies to foster economicdevelopment on the Viet Nam-Laos border and the completion ofadministrative reform at border gates to allow the transit ofthird-country goods.

Thereform would accord with the agreement among the Greater-Mekong – Subregion countries – Cambodia, China, Laos, Myanmar, Thailand and VietNam – to promote the freer flow of people and goods.

Industryand Trade Ministry officials from both Viet Nam and Laos continued topropose that their governments assess the possibility of establishingborder trade zones and the upgrading of some auxiliary border gates.

Theyalso agreed to recommend that government incentives be introduced forthe eight Lao, Thai and Vietnamese provinces that share Highways 8 and12.

The officialspledged to quickly finish a plan for the development of a network ofborder markets and trade between Viet Nam and Laos by 2020.

Viet Nam and Laos share a border of more than 2,000km.

Bilateral trade

VietNam's Industry and Trade Ministry reports that bilateral trade reachedUS$211 million to June 30 and is expected to total $470 million for theyear, up 12 per cent against 2009.

Thefigure meets 47 per cent of the target the two governments set for2010. Bilateral trade is expected to total more than $2 billion by 2015with Lao exports to Viet Nam worth $1.3 billion and Viet Nam's exportsto Laos $1 billion.

Conferenceparticipants shared their knowledge of border-trade management andco-operation and proposed ways to ensure its development wassustainable.

They agreed to increase co-operation in the study of the border's economic potential and prioritise projects to develop trade.

Itwas also agreed that enterprises in both counters should enhance theirco-operation to produce commodities for export to third countries andpromote the transit of goods via their border gates.

(Source: VNS)