Laos is focusing on enhancing the competitiveness of food micro, small, and medium sized enterprises (MSMEs) through the development of marketing strategies targeting domestic and overseas markets by way of lectures and consultations on branding, marketing, and packaging of food products.
The Trade Promotion Department of the Ministry of Industry and Commerce, in cooperation with the ASEAN-Korea Centre (AKC), organized a workshop themed “Enhancing Global Competitiveness of the Food Industry” in Vientiane Capital on Jan 10-11.
During the two-day seminar, participants learned more about the consumer behaviors, market requirements and trends. In this sense, penetrating the Korean market can be realized.
All the participants were encouraged to utilize the occasion to learn from and exchange information with the experts.
The goal of the seminar was to increase exports from Laos to Korea. The seminar offered a great opportunity for Lao companies as well as people interested in the Korean market to learn more about it.
There is an increasing trend in Korean markets with increasing investments in Laos, increasing numbers of tourists visiting Laos from Korea, and an increasing volume of bilateral trade, said Deputy Director General of Trade Promotion Department (TPD), Mr Saysangkhom Khotnhotha.
The Agriculture Sector plays an important role in Laos as 75 per cent of the population is engaged in the sector.
“Value addition for Lao products is highly needed to increase export volume, generate more income and create jobs for locals,” said Mr Saysangkhom.
The agro processing business started in Laos not so long ago. The number of well-know products is limited and many of them still need improvements such as technology to ensure consistent quality, quantities and certification standards.
The Trade Promotion Department’s roles and responsibilities include promoting Lao products domestically and internationally, helping Lao entrepreneurs understand market trends and requirements so Lao products can be improved accordingly, and disseminating information on Lao products and related trade information at international and domestic exhibitions.
TPD and AKC have been organizing a series of activities each year. These activities include participating in trade fairs and organizing workshops in Laos and overseas.
“One of the key sectors of the plan is the food industry. Despite having great potential with rich natural resources, a strategic location bordering five major markets, and a competitive labor force, the food industry of the nation remains underdeveloped mainly due to the lack of infrastructure, specifically packaging and processing technologies,” said Deputy Head of ASEAN-Korea Centre Lee Dong-go.
“I hope that this workshop will provide Lao MSMEs in the food industry with information on viable technologies and strategies, thus contributing to the national development of the Lao PDR,” he said.
Source: Lao News Agency