Lao exports to Cambodia on the up
Lao exports to Cambodia on the up
Laos has recorded large increases in exports to Cambodia since 2013 which last year stood at over US$29.19 million, up from about US$3 million in 2013.
The Ministry of Industry and Commerce reported that Laos’ exports to Cambodia for four years from 2013-2016 were about US$61.64 million.
There were about 30 types of export products with the main ones being electricity followed by vehicles and spare parts, drinks, fuel and gas, coffee, tea, furniture, electronic components, home decor products and crops.
Meanwhile Laos’ imports from Cambodia also increased; however, the figures recorded were still very small.
The ministry reported that imports amounted to only about US$2.78 million for the four years from 2013-2016. In 2013 imports recorded around US$643,000, but were up to over US$923,000 last year.
There were about 23 types of products imported, including livestock, machinery, motorcycles, cotton, pharmaceuticals, furniture and others.
Laos and Cambodia have agreed to promote investment and trade cooperation between their neighbouring provinces following the increasing value of bilateral trade.
Investment by Cambodian companies in Laos was valued at about US$84 million, according to a Cambodian media report. Laos and Cambodia this year celebrate the 60th anniversary of diplomatic ties (June 15, 1956-June 15, 2017).
The number of Cambodians entering Laos from January to September 2016 reached 11,924, a 5 percent drop compared to same period in 2015, according to the Tourism Development Department.
Laos and Cambodia would continue to extend mutual support and assistance to drive the two nations’ development.
Both sides are pleased to continue extending mutual support and assistance in various fields in order to attract international assistance contributing to socio-economic development.
The recent opening of an international border crossing linking the Nong Nokkheane area in Khong district, Champassak province, to the Trapeang Kriel area of Cambodia’s Stung Treng province will boost tourism and economic development as well as facilitating people-to-people exchanges, especially for those living nearby.
