[NEWS] – Advantages of Vietnamese enterprises when exporting goods to Laos

With stable economic growth, and increasing people’s income as well as consumption, Laos is considered one of the stable markets for trade and investment development. Therefore, this market is becoming more and more attractive to Vietnamese exporters.

1. Convenience in terms of transportation

With 8 pairs of international border gates, 7 pairs of main border gates, and 18 pairs of secondary border gates, economic exchanges as well as travel, import, and export of goods and labor between Vietnam and Laos are very favorable. Another great advantage for economic cooperation between the two countries is that Vietnam - Laos has a long and friendly border with localities. The border between the two countries forms a large area including 10 provinces of Vietnam and 10 provinces. of Laos.

2. Tariff preferences

The two countries’ trade benefits from the reduction of tax rates to 0% for most products under the ASEAN Trade in Goods Agreements, the Vietnam-Laos Bilateral Trade Agreement, and the Vietnam Border Trade Agreement. South-Laos. Other advantages such as the Laos market does not have strict requirements on product quality, consumers have a lot of sympathy for goods from Vietnam.

3. Lao consumers prefer Vietnamese products

Lao people are very fond of Vietnamese goods, not inferior to Thai and Chinese goods, especially vegetables and fruits. In the first nine months of this year, fruit and vegetable exports to Laos increased by 230%, reaching nearly $44.8 million. This is also the market with the strongest growth by the end of September 2022. Especially, in September, the export of this group of goods to the Laos market recorded a record increase of 3,006%, reaching nearly 10.3 million USD, bringing Laos to the 7th position in the largest customer group of Vietnamese vegetables and fruits. exports in September.

Although there are many advantages to exporting goods to Laos, Vietnamese enterprises still face many difficulties in finding reputable importers. The event "Vietnam - Laos Economic Forum" taking place on December 13, 2022, at Rex Hotel will be an opportunity for Vietnamese exporters to find partners, as well as investment opportunities in Laos.

(Source: Collector)