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China-Laos trade, economic cooperation continuously develop in past 20 years

Updated: Jul 7,2017 7:25 AM     Xinhua

VIENTIANE — Trade and economic cooperation between China and Laos has continuously developed in the past 20 years, said Zhao Chenggang, Chargé d’affaires of Chinese Embassy in Laos on July 6.

Under the support of leaders of the two countries as well as efforts of Laos-China Cooperation Commission, bilateral trade and economic cooperation has achieved great results, the official said at a ceremony commemorating the 20th anniversary of Laos-China Cooperation Commission.

China has now become the biggest foreign donor to Laos, biggest investor and the second largest trade partner of Laos, he said.

In 2016, bilateral trade revenue reached $2.34 billion, Chinese investment to Laos reached $5.42 billion. The assistance and investment of China have helped Laos realize its national development strategies and targets, said Zhao.

China-Laos railway, the first satellite of Laos, Laos-Cambodia border road and other projects with Chinese investment have helped promote connectivity between Laos and neighboring countries, thus contributing to Laos’ turning from a “landlocked” to a “land-linked” country.

Bilateral cooperation in human resources has also gained fruitful achievement. Each year, China provided training for over 1,000 people from Laos in fields of agriculture, railway, healthcare, justice, customs, among others, he said.

China is willing to join hands with Laos to carry forward the traditional friendship, expand mutually beneficial cooperation, further deepen bilateral trade and economic cooperation under Belt and Road Initiative, thus bringing the comprehensive strategic cooperative partnership between the two countries to a new height.