Logo of Phnom Penh Post newspaper Phnom Penh Post - Laos, Saudi to strengthen two-way trade, investment



Laos, Saudi to strengthen two-way trade, investment

Content image - Phnom Penh Post
Lao foreign minister Saleumxay Kommasith (right) and his Saudi counterpart Prince Faisal bin Farhan al Saud in Vientiane on Friday. VIENTIANE TIMES

Laos, Saudi to strengthen two-way trade, investment

Laos and Saudi Arabia plan to extend cooperation in the fields of trade, investment, mining, energy, agriculture, education, and tourism.

These issues were discussed when the Minister of Foreign Affairs of the Kingdom of Saudi Arabia, Prince Faisal bin Farhan al Saud, paid an official visit to Laos on March 18.

The Saudi foreign minister and his delegation visited Laos in response to an invitation from Lao Minister of Foreign Affairs Saleumxay Kommasith.

The visit was arranged to strengthen and expand the existing good relations and cooperation between the two countries for the mutual benefit of both peoples.

According to the Lao foreign affairs ministry, during the meeting the two sides exchanged views on bilateral cooperation and plans for further cooperation in the fields of trade, investment, mining, energy, agriculture, labour, education, culture and tourism.

The two foreign ministers briefed each other on their respective socio-economic development situations and discussed regional and international issues of common interest.

The Lao side proposed that Saudi Arabia consider providing assistance in human resource development, including training in English and Arabic for Lao diplomatic staff.

Laos also asked Saudi Arabia to consider investing in agriculture and importing agricultural produce from Laos.

This would enable Laos to move closer to achieving its sustainable development goals and graduate from Least Developed Country status.

The Saudi foreign minister expressed his pleasure at being able to facilitate the two sides to discuss and work more closely to make the proposals a reality.

Saleumxay congratulated Saudi Arabia on its success in hosting the 42nd Gulf Summit in 2021 and thanked the Saudi government for its past support and assistance to Laos, as well as expressing his hope for continued mutual support in the future.

VIENTIANE TIMES/ASIA NEWS NETWORK

MOST VIEWED

  • Hong Kong firm done buying Coke Cambodia

    Swire Coca-Cola Ltd, a wholly-owned subsidiary of Hong Kong-listed Swire Pacific Ltd, on November 25 announced that it had completed the acquisition of The Coca-Cola Co’s bottling business in Cambodia, as part of its ambitions to expand into the Southeast Asian market. Swire Coca-Cola affirmed

  • Cambodia's Bokator now officially in World Heritage List

    UNESCO has officially inscribed Cambodia’s “Kun Lbokator”, commonly known as Bokator, on the World Heritage List, according to Minister of Culture and Fine Arts Phoeurng Sackona in her brief report to Prime Minister Hun Sen on the night of November 29. Her report, which was

  • NagaWorld union leader arrested at airport after Australia trip

    Chhim Sithar, head of the Labour Rights Supported Union of Khmer Employees at NagaWorld integrated casino resort, was arrested on November 26 at Phnom Penh International Airport and placed in pre-trial detention after returning from a 12-day trip to Australia. Phnom Penh Municipal Court Investigating Judge

  • Angkor Beer, 30 Years of Prestige and Still Counting

    Let’s celebrate 30 years of prestige with Angkor Beer. In this 2022, Angkor Beer is 30 years old and has been staying with Cambodian hearts in all circumstances. Head of core beer portfolio, EmYuthousaid, “We have been with Cambodians for three decades now. We, ANGKOR Beer, pride

  • Sub-Decree approves $30M for mine clearance

    The Cambodian government established the ‘Mine-Free Cambodia 2025 Foundation’, and released an initial budget of $30 million. Based on the progress of the foundation in 2023, 2024 and 2025, more funds will be added from the national budget and other sources. In a sub-decree signed by Prime Minister Hun Sen

  • Two senior GDP officials defect to CPP

    Two senior officials of the Grassroots Democratic Party (GDP) have asked to join the Cambodian People’s Party (CPP), after apparently failing to forge a political alliance in the run-up to the 2023 general election. Yang Saing Koma, chairman of the GDP board, and Lek Sothear,