Australian livestock sector eyes investments in Laos

A delegation representing the Australian livestock sector is visiting Laos during October 20-21 to explore trade and investment opportunities, including the expansion of beef production and cooperation in agriculture.

The delegation from the Australian livestock sector that is visiting Laos during October 20-21.

The delegation includes senior representatives from Meat and Livestock Australia, the Cattle Council of Australia, the Australian Department of Agriculture, Fisheries and Forestry, the Australian Trade and Investment Commission (Austrade), and ANZ Bank.
The Australian side believes there are trade opportunities because of Laos’ economic potential, strategic location, and the government’s strategy to become “land-linked”, which has led to new infrastructure and better connectivity, according to a media release from the Australian Embassy in Vientiane.
“Laos provides a terrific combination of a government and private sector keen to build on its natural agricultural advantages, a geographic position ideal for trade with countries across the region, and a growing population whose demand for beef will continue to rise,” Michael Whitehead from ANZ Agribusiness Insights said as quoted in the media release.
The chargé d’affaires at the Australian Embassy, Dan Heldon, said that “Australia welcomes the opportunity to support Laos’ agriculture sector and its broader development priorities. Australia is a recognised world leader in beef production, sustainability and agricultural innovation. Growing our cooperation in these areas will enable Laos to benefit from Australian expertise.”
Laos and Australia are celebrating 70 years of diplomatic relations this year. This visit builds on strong and expanding support for basic education and human resource development, quality infrastructure and environmental resilience, and Australia’s assistance for Laos’ health and economic recovery from Covid-19.
Members of the visiting delegation said that investing in partners such as Laos and other Southeast Asian countries could serve as a pathway to strengthening regional prosperity, security and resilience.
According to the latest update on the Lao Trade Portal website administered by the Ministry of Industry and Commerce, Australia is ranked among the main export destinations for Laos. Exports to Australia were worth US$25 million in September, with the country coming after China, Vietnam, Thailand and Hong Kong.

By Times Reporters
(Latest Update October 21, 2022)