VIENTIANE — A trade fair was held on Oct 11 in Lao capital Vientiane during the Belt and Road-Colorful Yunnan International Car Rally to promote trade exchange between the two countries.
Addressing the fair, Lao Vice-Minister for Energy and Mines Chansavath Boupha introduced the processing industry of Laos as well as investment situation of Chinese Yunnan province’s enterprises in Lao mining industry.
According to Thanongsinh Kanlagna, vice-president of the Lao National Chamber of Commerce and Industry, economic and trade cooperation between Laos and China have made great progress.
Thanongsinh expressed his hope that the trade fair would help deepen the cooperation between the two countries in the Belt and Road Initiative, and more cooperation projects will be implemented.
Trade value between Laos and China’s Yunnan province reached some $400 million in the first six months of 2016. Of the figure, Yunnan exported around $97 million worth of commodities to Laos while Yunnan’s import revenue from Laos was some $310 million during the period.
Wang Yiming, executive president of the Yunnan Association of South and Southeast Asian Economic and Trade Cooperation, said China and Laos have distinctive and complementary features in terms of resources composition, agricultural and industrial structure. Yunnan province is the only locality in China that borders Laos. The country is the key passage for Yunnan to enter Southeast Asia countries.
A number of cooperation agreements were signed between Lao and Chinese side during the fair.
As many as 45 off-road vehicles with more than 140 crews are attending the Belt and Road-Colorful Yunnan International Car Rally in Laos. The rally started in Kunming city in China’s Yunnan province in late September and participants have driven throughout Southeast Asia and ASEAN core areas of the South Asia continent via Laos, Thailand, and Myanmar, Malaysia and Singapore before returning to Kunming. The rally is scheduled to take 19 days with a total length of 8,000 km.