Laos, China agree to further economic and trade cooperation

VIENTIANE,23.02.2012 (KPL)- Lao and Chinese governments have unanimously agreed to sign the 5th minute on further enhancement of bilateral economic and trade cooperation ties. The minute of the 5th Meeting of Economic, Trade and Technical Cooperation Commissions was signed in Vientiane Capital, yesterday by Deputy Prime Minister Somsavat Lengsavad and Minister of Trade of China, Mr Chen Jian. The 5th Meeting of Economic, Trade and Technical Cooperation Commissions closed at the same day with a great result. The 5th meeting of two commissions of Economic, Trade and Technical Cooperation between Laos and China has been held at the atmosphere of the auspicious year of friendship and cooperation between Laos and China is being grown constantly since the top leaders of two countries have agreed to raise the existing bilateral relationship between Laos and China to “all-around strategic cooperative partnership” in 2009. It was also in coincide with the two countries are on the celebration of 50th anniversary of founding of diplomatic relations with full context and in-depth meaning. The cooperation on economic, trade and technical agreement between two countries have been grown and become into practice and highest satisfactory effect, especially trade and investment. Two sides have reached agreements on bilateral economy, trade and technique between Laos and China including the grant aid of 150 million yuan for the construction of International Convention Centre for ASEM, 50 million yuan of interest-free loan for Laos, a special loan for the construction of police headquartre of the Ministry of Public Security, repair of Lao National Culture Hall. Four agreements were signed by Vice President of Laos-China Cooperation Commission, Mr. Vichit Sindavong and Chinese Ambassador to the Lao PDR, Mrs Pou Jianqua. The loan agreement was inked by Deputy Minister of Finance, Dr. Viengthong Siphandone and Deputy President of Exim Bank of China, Mr. Soun Phing. At the same day, Chinese delegation also paid a courtesy visit to Prime Minister Thonsing Thammavong and Minister of Public Works and Transport, Mr. Sommat Pholsena. This was a successful meeting contributing to the existing friendship, relations and comprehensive cooperation and development between Laos and China. The 6th meeting of economic, trade and technical commissions between Laos and China will be held in China 2014.