Laos and Thailand have signed a Memorandum of Understanding (MoU) on Small and Medium-Sized Enterprises (SMEs) cooperation and capacity building for bilateral SMEs between two countries.
The MoU was signed in Vientiane Capital on May 25, between the Director of SME Promotion Department of Laos, Mr Somdy Inmixay and the Director of Industrial Promotion Department of Thailand,Mr Pasu Loharjun.
The signing ceremony was witnessed by Deputy Prime Minister and Minister of Finance of Laos Somdy Douangdy and his Thai counterpart Somkid Jatusripitak during his working visit to Laos.
The MoU is to help capacity building for Lao SMEs, provide access to the international market for Lao products and services, networking between Thai-Lao SME Service Centres, capacity building for Lao SME related agencies, development of Lao financial services, joint development on tourism, development on industry production, and the development of software to facilitate business operations.
This MoU outlines the cooperation between the Office of Small and Medium Enterprises Promotion of Thailand and the Lao Business Women’s Association of Laos.
The two governments will have close cooperation among Thai-Lao SME agencies that will significantly assist SMEs of both countries to further expand their business interactions in areas such as trade, investment, and services.
They have also agreed to work with each other to maximise the mutual benefits for their SMEs.
Source: Lao News Agency