Laos, Thailand to double trade by 2010

(KPL) Laos and Thailand have reached a consensus to double the volume of the two-way trade by 2010 as compared with this year’s figure, requiring Laos’s exports to Thailand to triple the current value.
The two sides are preparing to draw up a plan to boost trade by 2010, which is seen to be feasible as Thailand has taken the lead among foreign investors in Laos over the past nine years.
Thailand is currently investing in 216 projects representing USD 2.5 billion in Laos. China ranks second, with over USD 2.1 billion in 303 projects, followed by Vietnam with over USD 1.9 billion in 189 projects.
The trade between Laos and Thailand has grown considerably in recent years. Last year, the two-way trade reached nearly USD 2.4 billion, up by 34 percent as compared with 2007. Laos’s imports from Thailand increased by 30 percent last year to nearly USD 1.8 billion while its exports to the latter reached USD 613.7 million.Laos imported petroleum, motorbikes, spare parts and iron and steel from Thailand and exported minerals, garments, textile and wood-based products to its neighbouring country.

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