On May 27-29 2015, Vice Minister of Chinese Commerce Ministry Gao Yan led Chinese trade and economic delegation to visit Laos. On May 28, Vice Minister Gao Yan hosted the 7th meeting of China-Laos Trade and Economic Joint Commission together with the Deputy Prime Minister of Laos and the President of the Laos-China Trade and Economic Joint Commission Somsavat, and on May 29, Vice Minister Gao Yan had talks with Laos Minister of Industry and Trade Khemmani, exchanging views on strengthening China-Laos economic and trade cooperation and reaching several consensus.
Gao said that under the common concern and joint effort of the leaders of the two countries, China-Laos economic and trade cooperation has gained continuous practical promotion and has achieved obvious effects. The bilateral trade volume in 2014 reached US$ 3.6 billion, up 32%; the reciprocal economic cooperation has enjoyed a substantial progress, the cooperation fields has been broadened and the investment to Laos witnessed a continuous expanding; the economic and trade cooperation of provinces and regions of the two countries is the new highlight of the bilateral economic and trade cooperation. Recently, a serious locust plague hit the North of Laos, and Yunnan Province of China dispatched experts immediately to Laos to make the field investigation and to discuss the work next. Chinese Ministry of Commerce is willing to, together with the Laos-China Trade and Economic Joint Commission and the Laos Ministry of Industry and Trade, promote the combination of Chinese initiative of the “21st Maritime Silk Road” and Laos economic and social development plan under the frame work of China-Laos Trade and Economic Joint Commission. At the same time, Chinese Ministry of Commerce is willing to promote the construction of economic cooperation zones and parks, to bolster the economic cooperation in infrastructure, electric power, agriculture and people’s livelihood strongly, and to strengthen the coordination under the framework of multilateral and sub-regional economic cooperation, in order to drive the new development of the bilateral economic and trade cooperation.
Somsavat said that China is the largest source of foreign investment and the largest export market of Laos, and Laos attached great importance to and is studying seriously Chinese cooperation vision of “One Belt and One Road”, which provides clear goals of comprehensive cooperation to the countries alongside, and contributes to their promotion of the level of connectivity in policies, infrastructure, trade and investment, finance, society and culture. He hoped to promote Laos to realize the development strategy of “continental connective country” under the framework of the “21st Maritime Silk Road”. Laos-China Trade and Economic Joint Commission is an important mechanism between Laos and China, he hoped that the function of the mechanism would be fully played, and the development of the bilateral economic and trade relations would be further promoted .
Khemmani said that, Laos-China trade enjoyed a continuous growth, and China is the largest export market and the second largest import source of Laos. Laos hopes to further expand export of competitive agricultural products to China, and to strengthen economic and trade relation with Yunan province. Laos supports the promotion of the upgrading negotiation of China-ASEAN FTA, and is willing to further strengthen the economic cooperation with China in the sub-regions like the Greater Mekong and the Pan-Beibu Gulf.
On May 27, the Vice Minister Gao Yan, together with the Vice President of Laos-China Trade and Economic Joint Commission and the Assistant Minister of Planning and Investment, made an investigation to the Vientiane Saysettha Development Zone.
