First Laos-China Guangxi fair opens today
First Laos-China Guangxi fair opens today
The first Lao-China (Guangxi province) trade fair opens today and will run until September 9 at Lao-ITECC in Vientiane, aiming to promote bilateral trade relations.
The fair is co-organised by the Lao Trade and Product Promotion Department under the Ministry of Industry and Commerce and the Department of Commerce of Guangxi province.
The event aims to showcase the industries and production potential of the two parties and also to promote the trade and business cooperation between Laos and Guangxi.
There are 172 booths displaying products from both local companies and from China, obviously mainly products from Guangxi province.
The 172 booths are split into 72 for Chinese products, of which 64 will be displaying goods from Guangxi province, and 100 booths for Lao products.
The products on display include electronic appliances, machinery, energy appliances, equipment, industrial chemical produce, construction materials, household goods, food, drinks, garments, textiles, leather and furniture.
The fair will offer an opportunity for business operators in the two countries to build networks and negotiate trade cooperation deals for the future.
It also aims to promote cooperation on economics and trade between the public and private sectors of Laos and China and also facilitate the exchange of information on trade, investment, transport and negotiation between manufacturers, entrepreneurs and consumers.
China is a large country that produces goods for export to many countries including Laos. It also seeks to import products from Laos, including wooden artefacts, utensils and furniture.
The Lao Furniture Association signed a cooperation agreement with a Chinese furniture importers’ group in October 2011 on furniture production in Laos for export to China.
The agreement with the Chinese group will see the production of furniture worth up to 2.6 trillion kip (US$333 million) per year for supply to the Chinese market over the next 20 years.
Trade between Laos and China reached about 16.24 trillion kip (US$2.03 billion) last year, which was an increase of almost 30 percent compared to the year before, according to a senior official.
“Cooperation between Laos and China rapidly increased over the past year. Altogether, Chinese investment in Laos is worth over 40 trillion kip (US$5 billion) making it one of the largest investors in Laos,” said Vice President of the Laos-China Cooperation Commission, Mr Vichit Xindavong, at a day-long photo exhibition in Vientiane in January.
vientiane times
