Logistics exhibition offers opportunity for Lao companies
Logistics exhibition offers opportunity for Lao companies
Lao businesspeople will be seeking opportunities to partner with foreign companies in an effort to increase their logistics capacity at an upcoming exhibition held in Thailand.
The TILOG-LogistiX 2017 event will be held in Bangkok, Thailand, from August 16-18 and aims to encourage the expansion of the logistics industry and logistics service network in the region.
“Lao businesspeople will have a chance to discuss potential business opportunities, especially potential opportunities for logistics service partners,” Deputy Managing Director of Lao International Freight Forwarders Association, Mr Somphone Phasavath, said on Friday.
Mr Somphone said the event would also provide a space for businesses to explore and build their networks including future business partnerships.
Director of the Board of Trade of Thailand under the Thai Chamber of Commerce, Mr Visarn Chansate, said Laos factors heavily into Thailand’s strategy plan for cooperation in the logistics sector, which will inevitably expand the opportunities between the two countries to develop business partnerships.
Besides Thailand, TILOG-LogistiX 2017 will also help Lao businesspeople connect with logistics service partners in more than 40 other countries.
During the event, Lao businesspeople will also have the chance to discuss the administration processes involved in logistics with other companies, such as at the Trade Logistics Symposium and the World Transport and Logistics Forum.
According to a report by the Lao Ministry of Planning and Investment, Laos’ export value this year is expected to reach about US$2.1 billion with a large amount of those goods destined to travel to Thailand or through Thai ports to consumers overseas.
Thailand and Laos have agreed to double their bilateral trade to US$8 billion in recent years, up from US$4 billion in 2011. In 2012 trade between the two countries was worth US$4.82 billion, up almost 24 percent from the previous year.
Thailand is Laos’ top trading partner and a lifeline for vital imports such as finished oil, vehicles, machinery and steel. Likewise Laos exports a large amount of metal scrap, processed wood, fruits and vegetables to Thailand.
The Department of International Trade Promotion under Thailand’s Ministry of Commerce reported from that 2012 to 2016 trade between Thailand and Laos was worth US$5.39 billion each year.
Last year, trade between Thailand and Laos was worth US$5.87 billion, up 2.86 percent from the year before.
