China-Laos cooperation bears rich fruit

The 2021 China-Laos Economic and Trade Cooperation Forum is held in Nanning, capital of Guangxi Zhuang autonomous region on Sept 9. [Photo by Lin Yanhua/China News Service]

The commemorative activity for the 60th anniversary of the establishment of diplomatic relations between China and Laos as well as the 2021 China-Laos Economic and Trade Cooperation Forum took place both online and on-site in Nanning, capital of Guangxi Zhuang autonomous region on Sept 9.

Laotian Minister of Industry and Commerce Khampheng Xaysompheng said in a video speech that the two countries have maintained close communication and the cooperation outcomes have brought much welfare to people. 

The minister added that China is Laos' second largest trade partner and biggest direct foreign investment resource, investing in a total of 882 projects in Laos. China has been continuously offering support and material assistance to Laos for the anti-COVID-19 fight. 

Ren Hongbin, vice minister of commerce, noted that the bilateral trade volume between China and Laos in the first half of 2021 increased by 36.8 percent year on year to 14.89 billion yuan ($2.31billion) and the direct investment made by China in Laos in 2020 stood at $1.24 billion, up 8.9 percent year on year.

Ren added that China is willing to further deepen economic and trade cooperation with Laos at a new historical point to promote the establishment of the China-Laos community with a shared future.

He expressed his hope that Laos can make full use of the China-ASEAN Expo to take an active part in showcasing its distinctive products and services, further expanding its exporting scale to China.