A coal mine in Kaleum Province, Laos. — VNA/VNS Photo

HÀ NỘI — There is great potential in mineral trade between Việt Nam and Laos, according to Vietnamese Minister of Industry and Trade Nguyễn Hồng Diên.

In a meeting with Laos' Minister of Energy and Mines on Monday, Diên said Việt Nam is looking to import 60-100 million tonnes of coal per year during 2025-30, with a large portion from Laos.

He said the two neighbours have been working out ways to help boost coal import from Laos to Việt Nam, stressing the need to bring the cost of Laotian coal down, closer to the global price.

In a recent report by the Việt Nam General Department of Customs, Việt Nam imported a total of 51.1 million tonnes of coal at US$7.1 billion in 2023, a 61.4 per cent increase in volume and 0.7 in value compared to the previous year.

Việt Nam has been increasingly dependent on imported coal, mainly to fuel its thermal power plants, cement and fertiliser production. The country has signed numerous deals with Laos to purchase electricity from 26 hydropower plants from Laos, with a total capacity of 2,689MW, nearly 90 per cent of a purchase plan until 2025.

Diên said the two ministries have been working together on a proposal to increase electricity import from Laos to Việt Nam to 5,000MW, improve transmission systems and bolster bilateral trade of petroleum products. — VNS