Laos, Russia agree to scale up trade, investment cooperation

Senior government officials from Laos and Russia agreed at a meeting held in Vientiane on Monday to enhance cooperation in trade and investment, acknowledging that the current value of the two countries’ bilateral trade and investment does not reflect the potential offered.

Deputy Minister of Foreign Affairs of the Russian Federation, Mr Andrey Rudenko (left), on Monday meets with Laos’ Deputy Prime Minister and Minister of Foreign Affairs, Mr Saleumxay Kommasith.

The two government leaders also agreed to step up cooperation in finance and banking, tourism, cultural interests, education, health, and international information security, as well as mutual support in regional and international forums such as those organised by the United Nations and Asean.
The cooperation plans were agreed to on Monday when the Deputy Minister of Foreign Affairs of the Russian Federation, Mr Andrey Rudenko, and his delegation held talks with Laos’ Deputy Prime Minister and Minister of Foreign Affairs, Mr Saleumxay Kommasith.
The Russian delegation visited Laos on February 18-19 with the aim of deepening the friendship and good cooperation between Laos and the Russian Federation.
During the meeting, the two sides said they highly valued the extensive cooperation that existed between Laos and Russia in past years, especially in the fields of politics and security.
Mr Saleumxay suggested that Laos and Russia strengthen their ties in potential areas of cooperation, as well as with the region and beyond.
Following the talks, Mr Rudenko and his delegation held a meeting with Laos’ Deputy Minister of Foreign Affairs, Mr Bounleua Phandanouvong.
The two deputy ministers discussed Laos-Russia cooperation in past years and possible plans for the future, and exchanged views on regional and global issues of mutual interest.
They expressed appreciation for the longstanding cooperative ties between Laos and Russia and especially their strategic partnership concerning security in the Asia-Pacific region.
The government leaders observed that the ties between the two countries are growing day by day with a strong degree of success within the framework of bilateral and multilateral cooperation, in the fields of politics, national defence and protection, trade, investment, energy and mining, finance, banking, education, human resource development, public health, humanitarian affairs, tourism, and cultural affairs.
They agreed to arrange more meetings between Lao and Russian leaders in order to broaden cooperation, and to set up more political dialogue meetings between the two ministries of foreign affairs.
Mr Bounleua, on behalf of the Lao government and people, thanked the government and people of Russia for their many years of support to Laos.

By Times Reporters
 (Latest Update February 21, 2024)