VIENTIANE: Lao and Chinese officials have agreed to enhance economic cooperation, trade and investment in border areas, aiming to boost local livelihoods and deepen bilateral relations.
The agreement was reached at a recent meeting between the Lao Departments of Industry and Commerce of Oudomxay, Bokeo, Luang Prabang, Luang Namtha and Phongsaly provinces, and Chamber of Commerce of China’s Xishuangbanna Dai Autonomous Prefecture.
At the 10th Laos-China Trade Cooperation Exchange Meeting held in Oudomxay province, both sides reviewed the implementation of agreements from the previous session and adopted the 2026 annual cooperation plan. The plan includes several key initiatives to promote trade, investment and economic development in the northern region, according to Lao Security News.
A Memorandum of Understanding was also signed, reaffirming the commitment of both sides to strengthen economic ties and create new opportunities for joint growth, particularly in improving the living standards of people in border communities.
The cooperation plan focuses on expanding trade, investment and industrial processing, especially in agricultural products, by facilitating exports and imports between Laos and China.
The two sides agreed to encourage the establishment of Chinese business associations to support cross-border trade and to promote participation of Lao and Chinese enterprises in exhibitions and border fairs on a rotational basis.
Both sides also pledged to collaborate with the Department of Agriculture and Environment to develop beef cattle breeding, improve cattle breeds and provide technical support for growing fodder and other agricultural crops.
To prevent smuggling and illegal trade, the meeting agreed to set up joint coordination units to share information and strengthen border security cooperation.
In addition, the two sides will promote small and medium-sized enterprises (SMEs), provide training on trade laws and facilitation, and encourage businesses from both countries to participate regularly in trade fairs and traditional markets to enhance mutual understanding and growth. - Vientiane Times/ANN
