Chinese, Lao business sectors bolster ties, MOU signed during ASEAN Summits

A high-level investment promotion event in Vientiane under the theme “Embracing Opportunities of the Times, Sharing Development Dividends”, organised by Beijing’s Pinggu District on October 10, aimed to promote ASEAN-China logistics links.

The President of the Lao National Chamber of Commerce and Industry Mr Oudet Souvannavong (right) on Thursday displays a signed MOU on stronger ties, alongside a representative of Beijing’s Jingping Integrated Logistics Hub Industry Development Co., Ltd., Mr Zhao Liang.

While attending the ASEAN Business and Investment Summit (ABIS-2024) in Laos this week, a high-level business delegation from China took the opportunity to hold a promotional event, attended by business representatives from ASEAN and dialogue partners.
Speaking at the event, the Standing Deputy Mayor of Pinggu District in Beijing, Mr Tang Zhaohui, introduced the area’s high-quality development, emphasising its strategic opportunities, geographical advantages, natural resources, industrial foundation, and business environment.
He noted that Pinggu is at the right time and place for growth, with favourable conditions and a strong momentum, and expressed a desire to expand the district’s “circle of friends” through foreign links, build a “bridge of friendship” for cultural and tourism links, and create a “community of shared interests” in trade cooperation.
Mr Tang extended a sincere invitation to all segments of society and entrepreneurs from ASEAN countries to visit Pinggu District to experience its beautiful scenery, feel its hospitality, and witness its rapid development, so they can share in the policy dividends of China’s vast market and seize the opportunity for growth.
At the same event, the Administrative Commission of the Mafang Logistics Base in Pinggu District, Mr Qin Haibin, highlighted the advantages of Pinggu District’s modern logistics industry, China-Europe freight trains, and overall industrial development.
He expressed the hope that export and import companies in ASEAN countries would jointly embrace the “corridor economy” created by the China-Laos Railway, further amplify the “golden route” effect, and work together to build and share a logistics corridor, a trade corridor, and a development corridor.

Managing Director of the Thanaleng Dry Port, Mr Sakhone Philangam (left), presents a gift to the Standing Deputy Mayor of Pinggu District in Beijing, Mr Tang Zhaohui, at an investment promotion event in Vientiane on Thursday.

Mr Tang Zhaohui gives an address at the investment promotion meeting, with the theme “Embracing Opportunities of the Times, Sharing Development Dividends”.

Massive and fashionable development in Pinggu District, Beijing, China.

He promised that Pinggu District would offer the utmost enthusiasm, the best services, and the most favourable environment to promote mutually beneficial cooperation, joint development, and a win-win future.
In the afternoon of the same day, the Lao National Chamber of Commerce and Industry (LNCCI) and Beijing’s Jingping Integrated Logistics Hub Industry Development Co., Ltd. signed a Memorandum of Understanding (MOU) also aimed at boosting cooperation.
The agreement was signed by the President of the LNCCI, Mr Oudet Souvannavong, and a company representative, and witnessed by senior officials from both sides.
The agreement will enable the strengthening of cooperation to bolster import and export trade and jointly promote the economic development of cities in ASEAN countries and China.
This cooperation will be based on mutual trust and the possibility of a long-term development strategy, with both sides giving full play to their advantages, working together to improve competitiveness, and jointly expanding the market.
The agreement was signed in a spirit of “reciprocity, mutual benefit, stability, permanence, efficiency and high quality” and will see the two sides form a deep strategic partnership.
They will explore the joint development of bulk commodity imports of international agricultural products.
The two sides will also consider the construction of fresh bonded warehouses, introduce high-quality fruit products from ASEAN (Laos), and export Pinggu peaches and other high-quality fruit to ASEAN (Laos) to achieve mutual benefits and a win-win situation.
At the same time, the MOU will enable stakeholders to make use of the logistics distribution system and storage resources at the Jingping Integrated Logistics Hub. The two sides will also prepare to set up the ASEAN (Laos) Import and Export Fruit Trade Centre.
The agreement runs from this month until September 2026 and is subject to adjustment based on project progress and practical needs, according to the company.
The two sides will make full use of the China-Laos Railway to enhance trade and facilitate the import and export of goods and services.
The two parties will strengthen their friendly exchanges and cooperation in the fields of economics and trade, logistics, agriculture and other fields, and help businesses to engage in mutually beneficial economic and trade cooperation.

By Advertorial Desk
 (Latest Update October 11, 2024)