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NEWS UPDATES 16 September 2010

Vietnamese PM talks with Lao PM

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Prime Minister Nguyen Tan Dung talked with Lao counterpart Bouasone Bouphavanh yesterday in Hanoi to discuss measures to tighten relations and expand the co-operation between the two countries.

The meeting between the two leaders yesterday resulted in the extension of the two sides' cooperation, which was marked with the signing of an agreement on air transportation.

Dung and Lao Prime Minister Bouphavanh, who began his three-day official visit to Viet Nam on Tuesday, yesterday witnessed the signing of a protocol which would enhance transportation circulation between the countries' borders. The twp sides are working to create an important legal frame to boost trade and business exchanges between the two countries.

The Lao leader confirmed that his country encouraged and would create favourable conditions for Vietnamese businesses to invest in Laos. The most prioritised fields of investment are education and human resources development,said Bouphavanh. Dung asked the two sides to co-operate in the project of improving the quality and effectiveness of their co-operation in these fields.

Dung and Bouphavanh expressed their pleasure with the fruitful development of their co-operative relations amid the world's fininacial turbulence.

The Vietnamese leader praised the socio-economic development achievements Laos have gained so far this year. Laos has managed to maintain their 7.9 per cent economic growth rate and the country's living standard has improved, despite the global financial crisis, droughts and epidemics the country has suffered.

The two sides agreed to continue exchanging high-ranking delegations to strengthen relations between the two people. The leaders also confirmed their determination to complete the Vietnamese-Lao co-operation strategy for the 2011-20 term and bilateral co-operation agreements for the next five years.

The leaders also discussed measures to boost bilateral co-operation in many fields, including economics, trade, investment, culture, tourism, healthcare and transportation.

The bilateral trade volume is expected to reach US$2 billion by 2015. The two countries also agreed to accomplish their demarcation and landmarks project by 2014. The co-operation on ensuring security, order and encouraging investment projects around the border areas will be expanded.

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