China-Laos Economic Cooperation Enjoys Opportunities: Official

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Last updated at: (Beijing Time) Wednesday, November 27, 2002

China-Laos Economic Cooperation Enjoys Opportunities: Official

China and Laos enjoy enormous cooperation opportunities in the fields of trade, investment and technology with the implementation of the agreement on the China-ASEAN free trade zone.

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China and Laos enjoy enormous cooperation opportunities in the fields of trade, investment and technology with the implementation of the agreement on the China-ASEAN free trade zone.

Kieng Khammanh Khottavong, an official from the Economic Department of the Foreign Ministry of Laos made the remark Thursday at the Forum on Economic Cooperation between China and Southeast Asia held recently in Nanning.

According to a plan on cooperation in the greater Mekong subregion, China has agreed to provide loans for Laos to build its section of a highway from Kunming, capital of southwest China's Yunnan Province, to Bangkok, capital of Thailand, Kieng said.

China has also agreed to extend by five years to 2015 the deadline for some new ASEAN nations, including Laos, to cancel their tariffs, allowing time for the set-up of the China-ASEAN free trade zone, he said.

China-Laos trade grew 51.4 percent to a total of 61.87 million US dollars in 2000 and the two nations should further improve their infrastructure, legal framework and regulations to facilitate bilateral trade, Kieng said.

The China-ASEAN free trade zone will promote economic growth in the region and Laos considers it an important task to support its entrepreneurs to do business with their Chinese counterparts, Kieng said.

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