Lao-China Trade fair to boost bilateral trade
Lao-China Trade fair to boost bilateral trade
The first Lao-China (Guangxi) Trade Fair will be held in Laos from September 5-9 at Lao-ITECC, aiming to promote bilateral trade and cooperation between the Guangxi Zhuang Autonomous Region of China and Laos.
The five day-long trade fair will feature 72 booths from 64 enterprises in Guangxi.
Speaking at a press conference, China’s Department of Commerce in Guangxi Deputy Director Mr Qin Xiangxiong said this first ever Lao-China (Guangxi) Trade Fair was being supported by both countries.
The Economic and Commerce Office of the Embassy of China in Laos and the Chinese Chamber of Commerce in Laos is on one side with the Lao National Chamber of Commerce and Industry and the Asean-China Centre on the other.
“Most of the outstanding products made in Guangxi will be featured at this trade fair, including electrical items, construction materials, household goods, apparel and some leather products,” he said.
He revealed that a number of renowned companies from Guangxi were expected to provide a variety of purchasing options for customers from all walks of life in Laos.
Trade and Production Promotion Department Deputy Director Mr Chalearn Sounichanh said the event will be the first trade fair between Laos and Guangxi in Laos but it will be a significant step in enhancing the bilateral trade cooperation between the two sides.
“Figures were recently released showing that Laos and China had a huge amount of bilateral trade which contributed to the social and economic development of the two countries,” he said, saying that Lao business from different sectors nationwide will also be represented in the trade fair.
More than 100 Lao business units will display their products at the trade fair at Lao-ITECC, Mr Chalearn said.
“This event will also provide a great opportunity for Lao and Chinese businesspeople to create linkages and business matching between the two sides, so they can further develop strong cooperation in trade connectivity in the years to come,” he added.
According to statistics from the China Customs report, trade between Laos and China totalled US$2.74 billion last year, a 58 percent increase over 2012.
Meanwhile the trade between Guangxi and Laos stood at US$15.39 million, a 62 percent increase compared to the previous year.
From January to July this year, trade between Guangxi and Laos reached US$35.68 million, a huge increase of 487 percent compared to the same period in 2013.
In May the value of Guangxi investment in Laos was recorded at US$135 million with most of it going into projects in the forestry and mining sectors.
vientiane times
