Prime Minister Nguyen Xuan Phuc (R) and his Lao counterpart Thongloun Sisoulith at the press conference in Hanoi on January 4

During a press conference held in Hanoi on January 4 followingthe meeting, PM Phuc said the meeting saw the presence of representatives fromthe two countries’ 40 ministries, agencies and localities.

According to him, Vietnam’s total development assistance toLaos increased by nearly 19 percent last year while five works – joint effortbetween the two nations, were inaugurated and put into operation.

Vietnam has invested over 5 billion USD in Laos. Two-waytrade surpassed the target to 1.25 billion USD. Over 16,000 Lao students arestudying in Vietnam while nearly 100 Vietnamese students are in Laos.

The two PMs expressed delight at the effective andcomprehensive development of bilateral ties over the past years.

PM Phuc said both sides agreed to realise set agreements anddeepen bilateral political, external, national defence – security ties, towardsachieving the growth of 10-15 percent in two-way trade in 2020.

They will enhance connectivity between the two economies,including in transportation, energy, sustainable use and management of waterresources and other natural resources.

The two sides discussed building a 10-year cooperationstrategy, particularly encouraging ministries, agencies, localities, businessesand people to expand ties and offer mutual support.

Vietnam and Laos will work closely together at regional andglobal forums such as ASEAN, APEC, ASEM, among others, he said, adding thatnine cooperation agreements in various areas were signed during the meeting.

Nine cooperation agreements in areas were signed at themeeting, PM Phuc said, adding that the Vietnamese government will directministries, agencies, localities, businesses and units work closely with Laopartners, thus creating favourable conditions for Vietnamese firms toeffectively do business in Laos.

The Lao PM, for his part, said the meeting reflectsVietnam’s appreciation of cooperation with Laos to foster each side’ssocio-economic development.

On the occasion, he asked the two countries’ ministries andagencies to effectively realise agreements reached by the two governments./. VNA