Laos, Thailand target 8 billion USD in two-way trade

Laos and Thailand have set sight on increasing two-way trade value from 5.4 billion USD currently to 8 billion USD within the next three years in a meeting held in Bangkok last week.

Monday, February 09, 2015 16:10

Laos and Thailand have set sight on increasing two-way trade valuefrom 5.4 billion USD currently to 8 billion USD within the next threeyears in a meeting held in Bangkok last week.

At the meeting, LaoMinister of Industry and Trade Khemmani Pholsena and her Thaicounterpart Chatchai Sarikulya discussed measures to further bordertrade as well as necessary conditions for the two sides to prepare fortheir participation in the ASEAN Economic Community by the end of thisyear.

The Ministers agreed to speed up a plan to develop borderareas, especially the establishment of special economic zones along theborder towns including Mukdahan-Savannakhet, Nong Khai- Vientiane,Nakhon Phanom- Khammouan and Chieng Khong- Bokeo.

Laos andThailand will set up a joint border trade committee as a key mechanismto push for and supervise economic links of their key border towns.

Atthe event, the Lao Minister said that Laos will handle transport issuesby facilitating the movement of goods to southern China along highwayR3A, a key route connecting Thailand, Laos and China.

She also pledged to solve the existing obstacles hindering imports and exports between the two nations.

Accordingto the Vientiane Times, Laos and Thailand enjoyed a yearly two-waytrade growth of 6.3 percent to 5.44 billion USD in 2014.-VNA

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