The annual meeting of the Lao-China Cooperation Committess for the year 2019-2020 was held on the 7-8 July 2020 at the Ministry of Planning and Investment via Video Conference under the chairmanship of Mdm. Khemmany PHOLSENA, Minister of Industry and Trade, President of the Lao-China Cooperation Committee and in the presence of Mr. Sonexay SIPHANDONE, Deputy Prime-Minister, Minister of Planning and Investment. The objective of the meeting was to review and draw lessons from the implementation of work related to the Cooperation between the Lao PDR and China in Economy-Trade and Technical Cooperation over the past year and agree on the way forward.
The meeting was split into two sessions: a technical level meeting and a high-level meeting. The technical level meeting provided the platform to discuss the processes in applying for grants and loans from the government of China, coordination mechanism and the collaboration between the Lao-China Cooperation Committee Office and focal point under the Department of Planning and International Cooperation of each ministry, central level agencies and Provincial Departments of Planning and Investment throughout the country. The high level Meeting of the Lao-China Cooperation Committess for the year 2019-2020 discussed the achievements made under the Cooperation between the Lao PDR and China in Economy-Trade and Technical Cooperation over the past year and agree on the way forward. The meeting also discussed the establishment of community of shared destiny between the two countries, the Lao-China economic corridor and the economic development along the Lao-China railway which constitutes an important cooperation framework between the two sides.
Mr. Sonexay SIPHANDONE, Deputy Prime-Minister, Minister of Planning and Investment expressed his sincere congratulations on the achievements made under the Cooperation between the Lao PDR and China in Economy-Trade and Technical Cooperation over the past year under the supervision and guidance of the Central Party and the Government as well as with the support and cooperation by all stakeholders at central and local levels including the Lao-China Cooperation Committee, acting on behalf of the Central Party and the Government as focal for the coordination and steering of the works under the Lao-China Cooperation, particularly in the field of Economy-Trade and Technical Cooperation, thereby ensuring steady growth and success. The achievements made over the past year were an indication of the strengthened ties between both countries in accordance with the Strategic Cooperation based on the “4 Good” principle (Good Neighbours, Good Allies, Good Comrades, Good Partners) and the transition into the Community of shared destiny.
The Lao-China Cooperation has brought great benefits to the Lao PDR and its people. Chinese investments, particular have shown steady growth in 2019, totaling over 12 billion USD in the fields of Hydropower, Mining, Infrastructure construction and others. As of June 2020, the Lao-China railway project is 89.45% complete and is expected to be completed by December 2021 while the Vientiane-Vangvieng Highway project is expected to be complete by December 2020 as planned. In addition, the bilateral trade between the Lao PDR and China in 2019 has amounted to 3.92 billion USD (2.1 billion USD in export to China, 1.76 billion USD in import from China) representing a 22.12% increase and making China the second highest trade partner for the Lao PDR. China has also granted export quotas to China for 50.000 tons of Lao rice for 2019-2020 and the Yunnan province has granted export quotas of cows-buffaloes to China.