Laos, China sign cooperation agreements
VIENTIANE - Laos and China have signed cooperation documents as a guideline to strengthen their relations, friendship and cooperation in the near future.
The agreements were signed during a goodwill visit to China from Tuesday to yesterday by Laotian President Bounnhang Vorachit, who is also secretary-general of the Lao People’s Revolutionary Party, in response to an invitation from his Chinese counterpart Xi Jinping.
The agreements concern economic and technical cooperation, exchange programmes related |to Laos’ hosting of the Asean Summit this year, China’s provision of equipment to wipe out locusts in Laos, production investment and loans given by China to fund infrastructure projects.
The agreements also relate to a loan for a processing and logistics project in Luang Namtha province and a loan from China to fund the installation of a power transmission line in Borikhamxay province and another power line linking Saravan and Xekong provinces.
This was Bounnhang’s first visit to China since he became party secretary-general in January and president of Laos last month.
According to the Laotian Foreign Ministry, the two leaders reaffirmed their intention to deepen their comprehensive strategic partnership and mutual assistance, aiming to maintain peace, stability and cooperation in the region and the world.
They agreed to further exchange visits by delegations at various levels to discuss ways to strengthen cooperation. The two countries also agreed to enhance cooperation in all areas ranging from politics, economics, law, special economic zones and energy to education, health, information and culture.
Xi was quoted by Xinhua as saying the visit showed that Laos attached great importance to Sino-Laotian ties.
He called on both sides to seize opportunities to improve their bilateral comprehensive strategic cooperation. The traditional friendship between the two countries is their shared treasure, Xi said, stressing that China was ready to work with the new Laotian leadership to build a community with a shared future.
Xi called on the two communist countries to enhance high-level contacts, maintain a high level of political mutual trust, improve exchanges between the two ruling parties and promote mutual learning in governance.
Over the past decades, Laos and China have enhanced their cooperative relations in various areas ranging from politics to the |economics and socio-cultural fields.
Besides exchange visits by delegations at various levels, the two sides also focused on economic cooperation.
Two-way trade had grown every year to US$1.3 billion in 2011, rising to $3.6 billion in 2014, but dropped to $2.78 billion (Bt98 billion) last year, according to the Lao News Agency.
Laos has become the second overseas investment destination for entrepreneurs from China’s Yunnan province.
The investment by this province in Laos has climbed to $1.04 billion.
