Representatives from Laos and Thailand have convened in Lao capital Vientiane to seek ways to boost bilateral economic and trade cooperation, setting a goal to double bilateral trade volume.
The representatives gathered on Monday to seek ways to facilitate smoother trade between the neighboring countries, Lao National Radio reported on Wednesday.
The two countries aimed to double bilateral trade volume to 11 billion U.S. dollars by 2025. This goal aligns with the strategic partnership action plan agreed upon in 2022 and follows the commitments made during the 22nd Lao-Thai Joint Commission meeting in 2021.
Both sides stressed the importance of promoting the purchase of Lao products to help address the trade deficit and encourage domestic production in Laos. Thailand also signaled interest in increasing investment in Laos, especially in the processing industry and other key sectors.
The meeting underscored the importance of continued collaboration between the relevant departments of both countries, with a focus on identifying further opportunities to enhance trade and economic relations.