Lao-Thai exhibition to boost trade
Lao-Thai exhibition to boost trade
The annual Lao-Thai Trade Exhibition launches today at Lao-ITECC in Vientiane, aiming to promote bilateral trade relations between small and medium enterprises of the two countries.
The exhibition, which will end on August 3, will have about 330 booths from Lao and Thai companies, including 250 booths for products from Thailand with the remaining 80 booths for Lao produce.
The event will be co-organised by the Lao Trade and Product Promotion Department under the Ministry of Industry and Commerce and the Thai International Trade Promotion Department.
The products at the event will include: automobile parts, construction materials, tools, machinery, electronic appliances, stationary items, educational equipment, clothes, furniture, textiles, handmade goods, food and health products, as well as other industrial items.
The event will also feature a business matching meeting between the Lao and Thai private sectors, technical training and a short term vocational training course on the day and the other performances on the night.
The fair is an opportunity for business operators in the two countries to build networks negotiate trade cooperation deals in the years ahead.
It also aims to continue promoting cooperation on economics and trade between the public and private sectors of Laos and Thailand and also facilitate the exchange of in formation on trade, investment, transport, negotiation between manufacturers, entrepreneurs and consumers.
According to the latest plan issued by the two respective ministries, they have set the targeted bilateral trade value at about 46.16 trillion kip (US$5.77 billion) by 2015. Thus, this fair is an effort to spur the expansion of bilateral trade values between Laos and Thailand in order to meet that target.
To achieve the highly ambitious trade target, the two countries will continue to organise frequent exchange delegations, product exhibitions and business networking meetings, allowing bus inesses tighten their cooperation.
Laos and Thailand will also continue to build roads, bridges and railways connecting the two countries, aiming to facilitate increasing imports and exports of goods, which will be necessary to achieve the set bilateral trade value target.
The two countries trade value was up to about 20 trillion kip (US$2.5 billion) in the first six months of this fiscal year (2013-14), according to a draft report on national social and economic development from the Ministry of Planning and Investment.
The US$2.5 billion represents a 3.47 percent increase on th e same period last fiscal year.
Last fiscal year (2012-13), the trade value between our two countries reached about 40.48 trillion kip (US$5.06 billion).
That US$5.06 billion was a large increase compared to fiscal year 2011-12 when the value of trade was about 17.92 trillion kip (US$2.24 billion), a more than doubling of trade.
The main import products included fuel, vehicles and spare parts, raw materials for garment production, electricity, food and drinks, electronic goods and equipment for industrial use and agricultural purposes.
Laos' main export products include agricultural produce such as maize and cassava, timber and wood products, electricity and minerals such as copper.
vientiane times
