(VOVworld) - Vietnamese Deputy Minister of Industry and Trade Nguyen Cam Tu held talks with his Lao counterpart Khemmany Phonsena in Vientiane on measures to boost bilateral trade relations.

Vietnam and Laos has seen a robust growth in two-way trade in recent years (Photo: VNA)

They on Thursday agreed that two-way trade between Vietnam and Laos has seen a robust growth in recent years, reaching 866 million USD last year, a 17 percent increase from the 2011 figure. It was 504 million USD in the first half of this year. In the near future, the two nations will create a legal framework for their businesses’ trade and investment activities. They will also focus on studying the possibility of establishing a new trade agreement which suits the current situations of both nations. The two sides suggested expanding the category of prioritized commodities, increasing border trade, improving people’s living conditions and maintaining political stability and security in areas sharing the border.