Laos, China trade fair boosts new trade cooperation platform
Laos, China trade fair boosts new trade cooperation platform
The Laos-China (Guangxi) Trade Fair in Laos launched on Friday, aiming to promote bilateral trade cooperation and a new platform for Lao-Chinese economics and trade.
The trade fair also aims to encourage the business sectors to understand the policies on trade integration with the region and international bodies, especially in preparation for the Asean Economic Community integration next year.
The fair features more than 300 booths from various business units, including around 200 booths from the Lao business sector.
A total of 64 enterprises in Guangxi province will be representing the Chinese business sector by displaying their products at the fair in Vientiane.
The shoppers will be able to buy a variety of popular products from Guangxi province of China such as electrical items, construction material, household goods, apparel and some leather products.
Lao products will include agricultural processed products, handicraft goods, ‘One District One Product' goods, traditional medicines and a wide range of furniture.
According to statistics from the China Customs report, trade between Laos and China totalled US$2.74 billion last year, which was a 58 percent increase since 2012.
Meanwhile the trade between Guangxi and Laos stood at US$15.39 million, which was 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 in vestment in Laos was recorded at US$135 million, with most of the funding going into projects in the forestry and mining sectors.
The fair is co-organised by the Lao Trade and Product Promotion De partment under the Ministry of Industry and Commerce and the Department of Commerce of Guangxi province of China.
vientiane times
