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Asean & Global Updates
POSTED | 16:28 PM | 10-11-2017

Laos, China expect to ink 17 deals

Laos and China are expected to sign 17 cooperation deals during the upcoming state visit to Laos by Chinese President Xi Jinping, The Vientiane Times reported on Friday (Nov 10, 2017).

Mr Xi, who was re-elected as General Secretary of the Communist Party of China (CPC) Central Committee, will visit Laos during November 13-14 at the invitation of his Lao counterpart Bounnhang Vorachit.

Lao Foreign Minister Saleumxay Kommasith told Lao and Chinese media yesterday that President Xi’s first overseas trip after the 19th National Congress of the CPC, which includes Laos, was a significant milestone in the history of Laos-China relations and cooperation.

“We feel honour, pride and delight and we are ready to welcome the state visit by President and General Secretary Xi Jinping,” he told reporters at the media conference in the lead up to President Xi’s visit.

The minister said Laos highly values its relations and cooperation with China, saying the two nations share a similar ideology and destiny.

He noted that Laos and China have long enjoyed good and growing relations and cooperation, especially since the two neighbours elevated their bilateral ties to a Comprehensive Cooperative Strategic Partnership in 2009.

Politically, leaders and delegations of the two countries have maintained regular contact and exchanges of visits.

Economically, both sides have witnessed an enormous increase in cooperation, and China is now Laos’ largest foreign investor.

Statistics show that Chinese companies have invested in 765 projects worth about US$7 billion across 14 main sectors, including mining, hydropower, agriculture, and services.

Although the value of two-way trade, which reportedly reached US$2.34 billion in 2016, was still small, the growing pace of trade was remarkably high, the minister said. In tourism, Laos has witnessed more and more Chinese visitors taking vacations here. 

“This is the fruitful achievement of the Comprehensive Cooperative Strategic Partnership,” he said.

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