Bilateral Lao-Thai Trade Set to Double | Lao Tribune

Bilateral Lao-Thai Trade Set to Double

Laos and Thailand have agreed to double bilateral trade and investment over the next five years from 2017-2021.

The agreement was made at a bilateral meeting of the two governments between Deputy Prime Minister and Minister of Finance of Laos Somdy Douangdy and Thai Deputy Prime Minister Somkid Jatusripitak held in Vientiane Capital last month, Thai Ambassador to Laos Noppadon Theppitak said on June 7.

Mr Theppitak said that this was a good opportunity for entrepreneurs from both countries to meet and discuss and also share experiences on production, packaging, marketing and doing business together.

Last year, bilateral trade and investment between two countries reached US$5.8 billion, the highest among other ASEAN member trade partners, said Minister of Industry and Commerce of Laos Phanthong Phitthoumma.

The Lao products exported to Thailand are electricity, ore and minerals from mines, agricultural produce and non-timber forest products.

Lao imports from Thailand include fuel, electrical appliances and consumer goods, among others.

Source: Lao News Agency