Title:
VIETNAM–LAOS TRADE RELATIONS FROM 2010 TO 2024: ACHIEVEMENTS, CHALLENGES, AND PROSPECTS

Authors:
Nguyen Thi Thanh Xuyen, Tran Thi Tuyet and Tran Thi Dung, Vietnam

Abstract:
Between 2010 and 2024, trade relations between Vietnam and Laos have made remarkable strides, reflected in the rising volume of bilateral trade, the signing of new trade agreements, and the development of cross-border trade infrastructure. However, several challenges remain that must be addressed to fully unlock the cooperation potential between the two nations. This article provides an overview of Vietnam–Laos trade relations during the 2010–2024 period, highlighting stable growth and expanded bilateral cooperation. Bilateral trade turnover rose from approximately USD 500–700 million per year to over USD 1.6 billion in 2023. Vietnam primarily exports petroleum, construction materials, and machinery to Laos, while importing minerals, agricultural products, and electricity. This relationship has been bolstered by bilateral agreements, preferential policies, and strategic infrastructure projects such as the Laos–Vietnam railway. Despite the impacts of the COVID-19 pandemic, bilateral trade maintained its growth momentum, contributing to the strengthening of the comprehensive and friendly partnership between the two countries.