Vietnam exports USD 97.4 million goods to Laos in Jan-Feb

Vietnam exported USD 97.4 million worth of goods to the neighboring country of Laos in the first two months of 2019, a rise of 20.26 percent against the same period last year, according to the industrial and commercial information center under the Ministry of Industry and Trade.

The country's major exports to Laos are oil and gas, steel and steel products, and means of transport, which, together, accounted for 40.84 percent of the total number, with USD 12.8 million coming from oil and gas.

Trade turnover between Vietnam and Laos exceeded USD 1 billion in 2018, up 14 percent year-on-year, the center said.

Vietnam is Laos' third largest trade partner, after Thailand and China.

The Lao Government is gradually removing complex administrative regulations and procedures, reducing timing required for corporate establishment, cutting tax and upgrading infrastructure.

The move aims to improve the country's business environment, thus attracting more foreign investors, including those from Vietnam.

Source: People's Army Newspaper