The agreement was reached during the 48th Meeting of the Intergovernmental Committee, co-chaired by Laotian Prime Minister Sonexay Siphandone and his Vietnamese counterpart, Pham Minh Chinh.

Both leaders agreed that the strong ties in politics, foreign relations, defense, and security continue to provide a stable foundation for the expansion of economic activities.

The rapid increase in bilateral trade reflects—they emphasized—the effectiveness of existing cooperation mechanisms.

Mutual trade is expected to reach around three billion dollars by the end of the year, a figure one and a half times higher than in 2024 and exceeding the targets set by both parties.

From January to October, trade totaled $2.3 billion, with a surplus of $904 million for Laos.

During the talks, the two governments committed to increasing bilateral trade by 10 to 15% by 2026, aiming for an annual value of $5 million.

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