The Lao delegation, including members of the Lao National Chamber of Commerce and Industry (LNCCI) and the chambers of commerce and industry from the northern provinces of Oudomxay, Luang Prabang and Xayaboury, visited a fruit processing company in Nan province of Thailand last week.

Lao, Thai business sectors to boost cooperation  in trade, investment, tourism

The business sectors of Oudomxay, Luang Prabang and Xayaboury provinces in northern Laos have inked technical cooperation agreements with their counterparts in Thailand’s Nan province as part of the efforts  to boost economic integration.
The cooperation agreements were signed by the two parties when a delegation led by the President of the Lao National Chamber of Commerce and Industry (LNCCI), Mr Oudet Souvannavong, visited Nan province last week.
The delegation included representatives of the three northern provinces in Laos.
The delegation’s recent visit to northern Thailand was aimed at enhancing integration with the Thai business sector, especially in Nan province, and exploring new opportunities for boosting the growth of trade and industry after three years of being hit by the Covid-19 pandemic.
One of the most important topics was the Thai side’s proposal to buy 1,000 tonnes of bamboo shoots, 70,000 tonnes of coffee beans and textiles from Laos.
In addition, Thailand is willing to support Laos with capacity-building for agriculture, production and development of Lao products.
Nan province is interested in supporting Laos by promoting knitting and weaving with the unique patterns of the Nan style in order to supply “made to order” items and to upgrade the quality of cotton and the style of knitting.
Authorities of Nan province will also support Laos for putting in place food safety measures for vegetables, fruits and frozen meats. Technical cooperation for breeding cattle and processing beef and buffalo meat is in the agenda to support exports to foreign markets.
Thailand is among the top five countries for exports from Laos. It was in third place after China and Vietnam with exports valued at US$ 63 million in June, and it took the lead among importing countries with a figure of US$ 307 million last month, according to figures issued by the Ministry of Industry and Commerce last month.
To uphold efficient bilateral cooperation, Laos and Thailand are set to enhance cooperation for cross-border trade facilitation, trade of coffee, tourism, distribution of products, reopening local border points, exchange of labour, and building on the integration of young entrepreneurs. They will also step up cooperation in technology, digital, and technical matters in the years ahead.

By Times Reporters
(Latest Update July 17, 2022)