Vietnam, Laos agree to work towards US$5 billion in two-way trade (2025)

Prime Minister Pham Minh Chinh hosted Lao Prime Minister Sonexay Siphandone at the Government Headquarters in Hanoi on April on the sidelines of the fourth P4G Summit.

Lao Prime Minister Sonexay Siphandone thanked the Vietnamese Government leader for inviting him to attend the P4G Summit. He emphasized the significance of this year’s event, themed “ Sustainable and People-Centered Green Transition,” as a meaningful platform that highlights Vietnam’s proactive and substantial contributions to global efforts in green growth, green transition and sustainable development.

Chinh extended his best wishes to the Lao leader on the occasion of the Bunpimay New Year. He appreciated the Lao PM’s participation at the summit and his keynote speech during the high-level dialogue, demonstrating Laos’ support for one of Vietnam’s key multilateral events in 2025.

As one of the seven founding members and official partners of the P4G, Vietnam expressed confidence that with the active engagement and valuable input of the Lao delegation and other international participants, the summit will remain an important platform for countries and international organizations to exchange ideas and promote cooperation initiatives on green and sustainable growth. These efforts aim to support the global community in achieving shared goals on climate action, digital transformation, science and technology, and innovation, while advancing green transition strategies for sustainable development at national, regional and global levels.

PM Chinh congratulated the Lao Government on its achievements in maintaining political stability and boost economic, social, educational and cultural development. He expressed his belief that under the leadership of the Lao Party and Government, Laos will continue to make important progress in improving people’s lives and enhancing its international standing.

PM Sonexay Siphandone congratulated Vietnam on its remarkable achievements in recent years. He said Laos closely follows and sees Vietnam’s progress as a source of encouragement for its own development. He also sincerely thanked Vietnam for observing a national day of mourning and sending high-level leaders to attend memorial services in both Vientiane and Hanoi for former Lao Party General Secretary, President and Prime Minister Khamtay Siphandone. He said these gestures reflect the profound friendship, camaraderie and brotherhood between the two nations.

During their talks, the two PMs affirmed that the Vietnam–Laos special relationship continues to grow in a strong and substantive manner across almost all fields. Political relations remain close and trusting, as shown in frequent high-level visits and exchanges.

They agreed to direct relevant agencies to fully implement high-level agreements, including the outcomes of the meeting between the two Politburos and the 47th session of the Vietnam–Laos Intergovernmental Committee. They also reaffirmed their commitment to strengthening political trust and special solidarity, and to bolstering security and defence cooperation to maintain social order and safety.

Both leaders consented to augment economic, trade and investment cooperation with a view to making breakthroughs and elevating bilateral trade to US$5 billion. They pledged to ensure the effective implementation of Vietnam-invested projects in Laos, and to enhance deeper economic linkages, particularly in infrastructure, transport, investment and tourism. Cooperation will also be strengthened in education and training, culture, science and technology, tourism and people-to-people exchanges.

On regional and international issues of shared concern, PM Sonexay Siphandone hailed Vietnam for its timely engagement with the US regarding reciprocal tariffs.

Host and guest underscored the importance of maintaining peace, security and stability in the region. They agreed to maintain close coordination and mutual support at regional and international forums such as ASEAN, the United Nations, and Mekong sub-regional cooperation mechanisms. They also emphasized the need to reinforce the close-knit relationship between Vietnam, Laos and Cambodia.

In his meeting with the Lao PM on the same day, Chairman of the National Assembly, Tran Thanh Man, affirmed that the Vietnamese National Assembly would work closely with its Lao counterpart to promote institutional and policy improvements, creating a favorable legal framework for both governments to effectively implement high-level agreements and investment cooperation projects, as well as other matters agreed upon by the two governments.

He showed elation at the continued comprehensive development of Vietnam-Laos relations across a variety of fieldsand emphasized his desire to further strengthen bilateral ties.

Siphandone applauded Vietnam’s remarkable and comprehensive achievements, as well as its increasingly prominent role on international platforms. He particularly commended Vietnam’s successful organization of this year’s P4G Summit.

He reiterated his commitment to directing Lao ministries and sectors to decisively implement the agreements reached during the recent meeting between the two Politburos and the 47th session of the Vietnam-Laos Intergovernmental Committee. These efforts aim to boost cooperation in all areas, including politics, foreign affairs, security, national defense, trade, investment, and transport connectivity. A key focus will be fostering progress in economic, cultural, educational, healthcare, and scientific-technical cooperation. He also emphasized the importance of completing major cooperative projects that have already been committed to.

Both sides highlighted the unique and unparalleled nature of the great friendship, special solidarity, and comprehensive cooperation between Vietnam and Laos. They expressed their satisfaction with the significant achievements in bilateral relations, especially the growing political trust fostered through regular high-level exchanges and collaborative mechanisms across various sectors. Defence and security cooperation continues to be a cornerstone of the relationship.

Meanwhile, economic, trade, and investment ties have flourished, and efforts in education, culture, science and technology, tourism, and people-to-people exchanges have been actively promoted.