BANGKOK: Thailand and Laos aim to increase bilateral trade to US$11 billion by 2027. Plans focus on logistics, agriculture, and cross-border trade, enhancing economic ties.
Suphajee Suthumpun, Minister of Commerce, revealed that Thailand hosted the 8th Thailand-Laos Joint Cooperation Plan meeting on Wednesday (Dec 17) in Bangkok.
The meeting, co-chaired by Malaythong Kommasith, Laos’ Minister of Industry and Commerce, focused on expanding economic cooperation between the two nations.
The primary goal is to make Thailand and Laos a central hub for transport and logistics in the Mekong River basin, facilitating trade between Asean and China.
A key focus was on increasing the efficiency of the Laos-China railway route by reducing the procedures and time required to transfer goods from Thailand onto the railway, eliminating the need for transfers between different vehicles.
A clear fee structure for transportation was also discussed to help businesses plan and calculate transport costs effectively.
This initiative is expected to benefit both Thailand and Laos, aligning with Laos' "Land Linked" strategy.
Additionally, the two countries discussed expanding bilateral trade to $11 billion by 2027, up from over $8.2 billion in 2024, the highest in the past decade.
A five-year plan (2026-2030) will be developed to ensure a structured approach, with clear timelines, for cooperation.
The plan will also revitalise agricultural mechanisms to develop product standards and strengthen the supply chain from farm to market, aiming to become a global food security hub, focusing on agricultural products free from burning to reduce cross-border PM 2.5 pollution.
Both countries agreed to exchange statistics on important import-export products, including fuel, which is currently controlled for export at the permanent border checkpoint in Chong Mek, Ubon Ratchathani.
Laos has confirmed that oil imports from Thailand are for domestic use only and not for export to third countries.
Suphajee further stated that the meeting also provided an opportunity for the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) of Thailand and the Laos National Chamber of Commerce and Industry to discuss private sector collaboration.
A joint private sector committee and subcommittees will be set up to focus on areas such as production and supply chains, trade and branding, tourism, policy and regulations, digital development and AI, and finance, ensuring continuous engagement between the private sectors of both countries.
Laos is Thailand’s 7th largest trading partner in Asean and 18th globally. In 2024, total trade between the two nations amounted to $8.28 billion, with Thailand exporting $4.93 billion and importing $3.36 billion, resulting in a trade surplus of $1.57 billion.
From January to October 2025, trade grew by 18.65% to $8.18 billion, with Thai exports increasing by 16.90% to $4.81 billion and imports from Laos rising by 21.23% to $3.60 billion.
Thailand’s key exports to Laos include refined petroleum, gems and jewellery, chemicals, cars, equipment and parts, and sugar, while imports from Laos include electricity, vegetables, fruits, processed vegetable and fruit products, jewellery, gemstones, and gold. - The Nation/ANN
