Potential Areas Of Trade Cooperation Between Laos And China To Be Developed(2)

In May of this year, Laos and Chinese companies have just signed an agricultural product trade agreement. According to the terms of the agreement, Laos will export 9 types of agricultural products to China, including peanuts, cassava, frozen beef, cashews, durians, etc. It is expected to be from 2021 to 2026. During the year, the total export value will reach about 1.5 billion US dollars.

This year marks the 60th anniversary of the establishment of diplomatic relations between China and Laos, and the 30th anniversary of the establishment of dialogue relations between China and ASEAN. The China-Laos railway will be completed and opened to traffic in December this year. Verasa Songpong said that the Kunming-Vientiane railway will promote the flow of goods, shorten the travel routes and time of the people of the two countries, become a key channel connecting the two countries, help Laos realize the strategy of transforming from a land-locked country to a land-connected country, and strengthen bilateral trade. contact.

Verasa Sompong also said that in the past 30 years, ASEAN and China have made significant achievements in economic and trade exchanges. Currently RCEP has been signed, and it is believed that this agreement will continue to promote the development of trade and investment between ASEAN and China, and bring greater opportunities for small and medium-sized enterprises in the region, and promote regional economic recovery.