Laos, China to further strengthen economic ties

VIENTIANE (Vientiane Times/ANN) - Laos and China expect to build up and strengthen their cooperation, with a Lao delegation led by Deputy Prime Minister Somdy Duangdy yesterday attending the opening ceremony of the 15th China-Asean Expo (CAEXPO 2018) in Nanning, China.

On the sidelines of the CAEXPO, taking place from September 12-15, Mr Somdy met with the Vice Premier of the State Council and member of the Politburo Standing Committee of the Communist Party of China, Mr Han Zheng, to discuss the future of bilateral cooperation in the fields of trade, investment and socio-cultural affairs, as well as tourism and official development assistance.

The Lao delegation also attended a bilateral meeting during which the two sides said they highly valued their strategic economic partnership and hoped to cooperate with each other in various social and economic development programmes.

At the same time, Mr Somdy toured the Lao booths exhibiting goods and services and the Lao Pavilion featured at the CAEXPO. This year, Vientiane province was selected to represent Laos at the expo.

Under the theme “Jointly Building the 21st Century Silk Road”, delegates from China and the 10 Asean member countries are attending the expo, along with representatives from many enterprises.

This year’s expo marks 15 years of the China-Asean relationship, which has resulted in remarkable community building, with China continuing to attach great importance to comprehensive cooperation.

In addition, China and Asean will support each other to reach trade targets set for this year, with the CAEXPO and the China-Asean Business Investment Summit (CABIS) further promoting China-Asean relations.

This year’s expo features more than 5,000 booths from over 2,500 enterprises in China and Asean countries in different fields at three locations: the Nanning International Convention and Exhibition Centre, the Guangxi Exhibition Centre, and South China Town in Guangxi.

A total of 52 Lao companies, who have set up 82 booths at the expo, are exhibiting a wide range of wooden furniture, accessory products and handicrafts, as well as industrial goods.

CAEXPO is a multilateral cooperation event between China and Asean, which has been held annually in China since 2004. It brings many practical benefits to both sides in the areas of trade, investment and other flourishing fields.