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Vietnam and Laos to abate trade tariffs for 95 percent of goods

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Mar 05, 2015 / 02:32 PM

Vietnamese Minister of Industry and Trade Vu Huy Hoang and his Lao counterpart Khemmani Pholsena signed a new cooperation agreement on March 3. Tariffs are scheduled to be eliminated on more than 95 percent of goods from Vietnam and Laos.

The new agreement replaces the 1998 trade agreement. 
 
The signing ceremony of new trade agreement between Vietnam and Laos
The signing ceremony of new trade agreement between Vietnam and Laos
Speaking at the signing ceremony in Vientiane, the Vietnamese Minister said when the document comes into effect, it will form the legal framework for bilateral cooperation in goods and services and make a significant contribution to fostering the Vietnam - Laos relationship.
Lao Deputy Prime Minister Somsavat Lengsavat hailed the signing of the bilateral trade agreement between the two countries and urged relevant ministries and sectors to effectively implement the agreement.
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