The Ministry of Foreign Affairs has been instructed to process necessary foreign procedures relating to the agreement in accordance with regulations and laws.

Earlier on June 27, 2015, Vietnamese Minister of Industry and Trade Vu Huy Hoang and Lao Minister of Industry and Commerce Khemmani Pholsena officially signed the Viet Nam - Laos Border Trade Agreement.

The agreement is expected to create a sound legal framework facilitating trade activities through border gates between the two nations.

It will also contribute to the two governments’ poverty reduction efforts, boosting socio-economic development of the two countries' border provinces, as well as lifting bilateral trade to US$2 billion in 2015.

Border trade between Viet Nam and Laos has yielded positive results over the past few years, contributing to expanding the market and higher growth in the two-way trade revenue.

Both sides have improved mechanisms, polices and administrative procedures to create a healthier environment for trade.

By Thuy Dung