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Vietnam goods consumption network expanded in Laos and Thailand

Sat, 04 Jul 2015. Last updated Sat, 04 Jul 2015 11:01

In Vietnam – Laos Trade Fair 2015 held from 2 – 6 July, Vietnam goods are preffered a large number of businesses in Laos, and Thailand. Major products of Vietnam businesses in this fair are pharmaceuticals, medical devices and industrial machinery.

On 2 July afternoon, Vietnam Ministry of Industry and Trade in collaboration with the ASEAN Secretariat organized a Vietnam - Laos Trade Fair 2015 at International Expo and Convention Center in Vientiane, Laos to promote brands, exports and expand Vietnam goods consumption in the markets of Laos and Northeast Thailand. At the opening ceremony, there were participations of Vietnam Deputy Minister of Industry and Trade - Nguyen Cam Tu, Deputy Minister of Laos Industry and Trade Somchith Inthamith, Vietnam Ambassador to Laos Nguyen Manh Hung, along with numerous representatives of enterprises and visitors. The fair takes place from 2-6 July, attracting the participation of enterprises in Vietnam and Laos, with about 200 registered enterprises exhibiting in over 300 booths.

An small enterprise in Vietnam

Vietnam has 100 companies with prestigious brands participating with over 120 booths, showcasing products of pharmaceuticals and medical devices; industrial machinery, building and construction materials; agriculture, forestry, fishery and food processing; apparel, fashion; crafts and interior - exterior; plastics and consumer products... Speaking at the opening ceremony, Deputy Minister Nguyen Cam Tu said that the purpose of the organization of this fair is to promote exports, expand consumption of Vietnam goods in Laos and Northeast Thailand. It is also held to create an environment to introduce the potential and strengths of businesses in all Vietnam economic sectors, introduce the business environment, investment and seek investment opportunities in Laos, and promote national image and Vietnam businesses. According to Mr. Nguyen Cam Tu, in recent years, with the attention of the Party, the Government, the close coordination between the ministries of the two countries, and the cohesion between Laos and Vietnam, the Lao - Vietnam economy cooperation is more thriving and growing.

Vietnam - Laos economic cooperation

In 2014, two-way trade turnover between Vietnam and Laos reached US $1.29 billion with growth rates of over 30% compared to that in 2013. In the first 6 months of 2015, despite of many difficulties, the export turnover of two countries reached an equal level compared with that in 2013. The exports between the two countries are increasingly diverse and abundant. More and more Vietnam products and goods are preferred by Laos’s consumers, and have a stable foothold in Laos. The import demand of Vietnam from Laos also increases, especially in specialties and groups of inputs for domestic production and exports. In the speech of Deputy Minister of Laos Industry and Trade, he confirmed that the fair would be an effective bridge for trade organizations, manufacturers, and investors in Vietnam and Laos to meet and exchange experiences, transfer technology, investment, joint venture, which will help businesses of both countries to strengthen competitiveness in preparation for the ASEAN Economic Community launched later this year. After the opening ceremony of the fair, the signing ceremony of cooperation agreement 2015-2016 between the Department of Vietnam Trade Promotion and Goods Development Promotion Agency in Laos was held. The signing ceremony of the cooperation agreement promotes trade, boosts link-commercial development, and supports business between Yen Bai province in Vietnam and Vientiane Department of Trade and in Laos.

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