Guangdong expo to provide for Lao business expansion

Guangdong expo to provide for Lao business expansion

Laos is literally a small country and least developed country in terms of high technology and modern trade facilities but its potential for organic produce, wood products, and handicrafts is considerable.

It is expected that these Lao products shall be competitive at a Chinese trade expo in October.
This was the observation of the Vice Governor of Guangdong province Mr Yang Xiaotang at the Laos Road Show for the ‘2015 Guangdong 21st Century Maritime Silk Road International Expo’ to be held from October 29-31.
“It is obvious that Laos has no exit to the sea and so is a so-called ‘landlocked country’ but the participation of Laos will enable it to raise its profile and get involved in business cooperation with its foreign partners,” he said.
The event is designed to promote the trade, economic and tourism cooperation among the countries of the region as well as to exhibit the typical quality products of each country.
In addition, it also aims to accelerate new forms of foreign trade and support the creative development of cross-border electronic commerce, trade and shipping logistics.
Following the fruitful initiative exposition of 2014, the authorities of Guangdong are keen to attract more exhibitors and enterprises from domestic business units and international firms.
Last years’ expo attracted more than 1,000 enterprises from 42 countries in the region and over 6,000 domestic and foreign procurement enterprises.
“Last year, more than 1,150 enterprises have attended the event and Lao enterprises also drew a huge attraction from Chinese buyers,” Mr Xiaotang said.
This year there will be over 2,000 booths on display at the expo, for which the Lao exhibitors will be given support in the form of free accommodation and a total of 10 booths will also be arranged for Lao enterprises free of charge.
Mayor of Vientiane Dr Sinlavong Khoutphaythoune, President of the Lao National Chamber of Commerce and Industry Mr Sisavath Thiravong and Chinese Ambassador to Laos Mr Guan Huabing were also present at the event.
Trade between the two countries exceeded 29.325 trillion kip (US$3.61 billion) in 2014, an increase of 31.87 percent compared to the year before.
China was Laos’ largest export market in 2014, accounting for 46.1 percent of all Lao exports. The value of Laos’ exports to China reached US$1.77 billion, an increase of 73.5 percent on the previous year.
Meanwhile goods imported into Laos from China reached US$1.84 billion in 2014, an increase of 7.1 percent compared to the year before. China represented the second largest source of Lao imports, accounting for 27.1 percent of the total.
As of March 2015, Chinese companies had invested in 758 projects in Laos totalling US$6.6 billion, including joint investments with Lao partners.
Of the US$6.6 billion, investments exclusively by Chinese companies amounted to US$5.3 billion, making China the largest foreign investor in Laos.

The figure was released by China’s Deputy Minister of Trade Ms Gao Yan during the daylong 7th meeting of the Laos-China, China-Laos Cooperation Commissions on Economy, Trade and Technical Affairs in Vientiane recently.

vientiane times