Laos, Malaysia trade worth over US$43 mn in 2024, cooperation set to expand

Two-way trade between Laos and Malaysia surged to more than US$43 million in 2024, marking a significant increase from US$30 million in 2023, as both nations worked to deepen economic collaboration and expand joint initiatives across multiple sectors.

Lao Prime Minister Sonexay Siphandone (left) and his Malaysian counterpart Anwar Ibrahim give a joint press conference after their bilateral talks.

The growth in trade was highlighted by Lao Prime Minister Sonexay Siphandone during an official visit to Malaysia on May 25, at the invitation of his Malaysian counterpart Dato’ Seri Anwar Ibrahim. The leaders held a bilateral meeting to review cooperation and chart a forward-looking roadmap for future engagement.
The Prime Ministers agreed to promote enhanced collaboration in energy, defence and security, finance, transport, agriculture, public health, education, technology, tourism and labour.
The two sides emphasised the importance of boosting investment and announced plans to hold a high-level Laos-Malaysia Business Seminar during the visit to further support trade and investment flows.
They welcomed joint activities planned for 2026 to celebrate the 60th anniversary of diplomatic relations, which is expected to reinforce ties between the two ASEAN members.
A key outcome of the visit was the signing of a Memorandum of Cooperation (MOC) between the Thanaleng Dry Port (TDP) of Laos and Malaysia’s Penang Port to strengthen logistics and transport connectivity.
The MOC was signed by MMC Port Holdings Sdn Bhd CEO Azman Shah Mohd Yusof and PTL Holding Co Ltd CEO Chanthone Sitthixay. The signing was witnessed by Prime Minister Anwar and his Lao counterpart Mr Sonexay, who made the official visit ahead of the 46th ASEAN Summit.
Prime Minister Sonexay expressed appreciation for Malaysia’s continued support, particularly in human resource development and ASEAN collaboration, and encouraged greater Malaysian investments in Laos, which currently stand at US$946 million across 88 projects.
Prime Minister Anwar, in turn, reaffirmed Malaysia’s commitment to deepening economic engagement for mutual benefit.
Mr Sonexay’s visit was hailed by both sides as a significant milestone in advancing bilateral relations and fostering greater regional integration through stronger economic ties.

By Times Reporters
 (Latest Update May 27, 2025)