Prime Minister Nguyen Xuan Phuc and Laos Prime Minister Thongloun Sisoulith

The meeting affirms the priority that the two countries give to continuously developing their great friendship, special solidarity and comprehensive partnership. The meeting will also strengthen political trust between the two countries and create a channel for directing the implementation of high-level agreements.

Speaking to reporters after the meeting, Prime Minister Phuc praised the success of the meeting highlighting fruits of bilateral cooperation over the past years and orientations for the time ahead. The Prime Minister said the two sides have effectively cooperated in all aspects with bilateral trade reaching 1.25 billion USD. Vietnam’s investment in Laos increased sharply ranking 3^rd among foreign investors in Laos with total investment of more than 5 billion USD. Bilateral cooperation in national defense, security, and external relations have been enhanced. Prime Minister Phuc said the two sides agreed to effectively implement signed agreements and joint statements. He said: “We will further bilateral cooperation in politics, external relations, security, and national defense and aim to increase bilateral trade 10 to 15% in 2020. The two countries will strengthen links and mutual supports in transportation, energy, and management of water resource and other natural resources. Vietnam will purchase Laos’ electricity at 2,000 to 5,000 MW in the near future to help Laos develop its energy. We will bolster transport cooperation and help Laos, a country without sea, to become a country with sea via Vietnam. We have discussed and developed a strategy on bilateral cooperation during the next 10 years.”

Phuc said the two sides pledged to foster cooperation at regional and global forums including ASEAN, APEC, ASEM, and Mekong cooperation forums. Laos Prime Minister Thongloun Sisoulith said: “The outcomes of the meeting reflect the two countries’ mutual understanding and determination to boost bilateral cooperation. We have discussed a wide range of issues including national defense, security, external relations, and cooperation in trade and investment and between localities. At the end of the meeting, we signed 9 cooperative agreements on various fields. We reached consensus on new methods of realizing of our agreements to make them more effective. “