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Laos, Saudi to strengthen two-way trade, investment

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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

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