Vietnam and Laos have agreed that human resources development remains a key success to build on, among others, in the second half of 2009.

At the meeting, which was chaired by Permanent Deputy Prime Minister Nguyen Sinh Hung and his Lao counterpart, Somsavat Lengsavad, consensus was reached that Vietnam should continue extending educational assistance to Laos, including scholarships for Lao students.

Other agreements included Vietnam’s further assistance to Laos in organizing the SEA Games 25, and training referees and athletes.

The two sides also agreed to pursue a tariff reduction roadmap and further streamline customs procedures to boost bilateral trade revenue to US$1 billion by 2010.

Vietnam and Laos have fulfilled major goals in bilateral cooperation for the first half of this year, especially in human resource development.

As a result, their exchange programs in education have benefited 75 students in addition to scholarships provided in furtherance of the 2009 cooperation agreement.

Bilateral trade reached $196 million in the first half of 2009.

Vietnam is among the three largest investors in Laos with 186 projects capitalized at over $2 billion, which were licensed for investment through June.

In the first half alone, the Lao government granted licenses to 17 Vietnamese projects with a combined capital of $88 million.

The two countries have signed six accords of cooperation in industry, trade, transport, exports and cooking hygiene and safety.

Source: VNA