Laos, Thailand boost trade and investment ties
Laos, Thailand boost trade and investment ties
The Lao National Chamber of Commerce and Industry (LNCCI) and the Thai Chamber of Commerce and the Board of Trade (TCC & BoT) will further their close relations and cooperation in trade and investment.
An agreement in this regard was signed in Vientiane last week between LNCCI President, Mr Sisavath Thiravong, and TCC & BoT Chairman, Mr Isara Vongkusolkit, in the presence of representatives of trade and investment companies and Lao and Thai businesses.
The two parties agreed to do their utmost to further improve and expand trade and investment, encourage and support businesses to invest in Laos and Thailand, and set up the Laos-Thailand Business Council.
The two chambers are also encouraging cross-border trade and business between Laos and Thailand in two particular locations. These are the border crossing between Thailand's Ban Huak in Phayao province and Laos' Pangmon in Xayaboury province, as well as Thailand's Nakhon Phanom border crossing with Laos' Thakhek in Khammuan province.
The focus of trade would be on agriculture, especially crops such as sweetcorn and rubber.
In tourism cooperation, both parties will develop a tourist route from Luang Prabang province to Sukhothai, aiming to attract tourists to the two world heritage sites, and further the implementation of the Cross Border Transport Agreement for the opening of Road R3A.
They will also try to develop tourism along the Mekong River on routes such as Chiangkhong to Luang Prabang and to support tourism linkages between northern Thailand and Vientiane province via Uttaradit province (Ban Phu Du-Paklay) and between Loei province and Vientiane province (Chiang Khan-Xanakham district).
The two chambers will also promote the N8 route, which connects Thailand's Nakhon Phanom province with Thakhek in Khammuan province via the third Lao-Thai Friendship Bridge and Vinh in Nghe An province, Vietnam. They will also encourage development along Road N12 which connects Thailand's Bueng Kan province with Laos' Borikhamxay district and Vietnam's Vinh, and further their cooperation under the Emerald Triangle project.
In education and human resource development, both sides will support cooperation between the University of the Thai Chamber of Commerce (UTCC), the National University of Laos, and Souphanouvong University.
UTCC will grant two scholarships per year in business administration for LNCCI members, one for a bachelor's degree and one for a master's degree.
TCC & BoT will coordinate with related organisations in Thailand to provide training on the organisation of trade fairs and provide scholarships in the fields of midwifery, nursing and public health for students from Laos.
In logistics cooperation, both parties agreed to ask the Lao and Thai authorities to expedite construction of the fifth Lao-Thai Friendship Bridge which will connect Thailand's Bueng Khan province with Laos' Borikhamxay province.
To benefit both sides and promote sustainable cooperation, Mr Sisavath called on the Thai side to support Laos, saying Thailand is home to many strong businesses while Laos has rich potential in natural resources.
vientiane times
