||Asean Affairs 24 July 2013
Laos posts trade surplus with Vietnam
VIENTIANE - Land-locked Laos posted a slight trade surplus with neighbouring Vietnam of US$23 million during the first five months of this year, media reports said on Monday.
Bilateral trade during the five-month period amounted to 3.4 trillion kip ($433.8 million), up 5.6% year-on-year, foreign trade policy department deputy director General Phanh Vilaysom said.
"Exports to Vietnam were about 1.8 trillion kip ($228.4 million)," Phanh was quoted as saying by the Vientiane Times reported. "The imports from Vietnam were around 1.6 trillion kip ($205.4 million)."
Lao exports to Vietnam were led by wood products and agricultural products, while the main imports from Vietnam were petrol, steel, vehicles and spare parts, machinery, coal, electric cabling, fruit and vegetables.
Last year, Laos' exports to Vietnam amounted to 3.5 trillion kip ($445 million) while imports from Vietnam were about 3.3 trillion kip ($421).
Laos and Vietnam are two of the world's few remaining communist regimes. Their leaders have enjoyed close ties since the Vietnam War years when they joined forces against the US military.