Chinese firms sign agreement to import agricultural products from Laos
The Laotian Times reported on May 31 that Chinese businesses have signed an agreement to purchase 1.5 billion USD worth of agricultural products from Laos from 2021 to 2025.
Lao and Chinese officials and businesspeople sign an agreement via video conference (Photo: The Laotian Times)
Vientiane,June 1 (VNA) - The Laotian Times reported on May 31 that Chinese businesses have signed anagreement to purchase 1.5 billion USD worth of agricultural products from Laosfrom 2021 to 2025.
Chinese companies will import 100,000 tonnes of peanuts, 100,000 tonnes of cassavaflour, 100,000 tonnes of frozen beef, 200,000 tonnes of cashew nuts, 100,000 tonnes of mangoes, 50,000 tonnes of durians, 200,000 tonnes of soybeans, 100,000 tonnes of bananas and 500,000 tonnes of sugar.
Lao Ministerof Industry and Commerce Khampheng Saysompheng, and Minister ofAgriculture and Forestry Phet Phomphiphak attended the signing ceremony.
The Ministry of Agriculture and Forestry said Laos has been exporting seven agricultural products to China including corn, cassava, banana, rice, watermelon, sweetpotato and bean.
Chinese agricultural companies have also begun to grow various fruits in Laos for export back to China. By 2020, a total of 239 Chinese companies had invested 590 million USD in agriculture and forestry in Laos, making China the country’slargest agricultural investor./.
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Lao and Chinese officials and businesspeople sign an agreement via video conference (Photo: The Laotian Times) 
