Prime Minister Phankham Viphavanh attended the ASEAN-US Special Summit to celebrate the 45th anniversary of ASEAN-US Dialogue Relations in Washington D.C., USA, on May 12.
On the first day of the two-day summit, Prime Minister Pankham and other ASEAN leaders met with Speaker of US House of Representatives Nancy Pelosi, members of the US house and US business people.
While meeting with the US congresspeople, the ASEAN leaders appreciated the US house upon its promotion of the ASEAN-U.S relations and cooperation over the past 45 years.
Prime Minister Phankham spoke highly of the role of the US house in promoting and approving US support for health and unexploded ordnance (UXO) clearance and other areas in the Lao PDR.
During their meeting with representatives of the US business community, the ASEAN leaders highlighted the role of the US businesses in promoting trade, investment and economic development in ASEAN.
Both sides also discussed business opportunities in ASEAN as the United States ranks the largest investor for ASEAN investing US$34.7 billion in the region in 2020 and the second largest trade partner of ASEAN. The ASEAN-US bilateral trade reached US$308.3 billion in 2020.
Realizing the Covid-19-driven economic recession in the region and the world at large, the ASEAN leaders agreed that the participation of the US businesses in economic recovery, strengthening of production chain through cooperation on connectivity, development of micro, small and medium enterprises, promotion of digitalisation, innovation and technology, and smart city development is crucial.
The Lao PDR appreciated the support of the United States for the promotion of the Inclusive Growth in ASEAN through Innovation, Trade and E-commerce (IGNITE) and other US –supported projects that have contributed to facilitating trade, implementation of the ASEAN Single Window initiative, digital economy and capacity building on the use of technology, science and innovation to promote economic growth in the region.
Source: Lao News Agency