General

Laos, China Look To Bolster Trade and Agriculture Promotion

(KPL) A Belt and Road China-Laos Trade Exchange and Yinbin Promotion Conference was held in Vientiane on Dec 19 to seek ways to enhance trade and agriculture promotion between Laos and China.

Ms Lyu Xiaoli, Chairman of Yinbin Committee, CPPCC said that the two countries have enjoyed increasingly enhanced relations, especially on trade and investment.

Yibin, the First City of the Yangtze River and also the City of Liquors in China, governs three districts and seven counties, with an area of 13,283 sq km and a total population of 5.56 million. Its economic aggregate ranks top 4 in Sichuan Province, and the top first in southern Sichuan and at the juncture of Sichuan, Yunnan and Guizhou.

In 2018, Yinbin’s DGP hit a record high of RMB 202.63 billion, continuing to keep its 4th place in Sichuan. Its economic growth rate reached 9.2%, taking the second place in the whole province.

Yibin is a key industrial city in Sichuan with a number of leading enterprises such as: Wuliangye-a liquor leader, Grace-a state-level innovative producer. And, its modern industry system covering intelligent terminal, rail transit, automobiles and new materials has taken shape.

The added value of industrial enterprises above designated size grew by 11.3%, the second place in the province.

Relying on its advantages in bamboo, tea, cattle, silkworm and other features sectors, Yibin becomes an important agricultural production base of Sichuan.

Mr Viengthong Phommahasay, General Director, State Enterprise for Agriculture Service, Ministry of Agriculture and Forestry, said that the Lao government has paid attention to promoting trade and investment in the Lao PDR, especially agriculture sector, and encouraged more foreign investors to invest in the Lao PDR.

China is the biggest foreign investor in Laos and the country’s second largest trade partner.

Source; Lao News Agency