China's total investment in Laos has reached over U.S. $5 billion making it the largest foreign investor in the landlocked Southeast Asian republic, according to Guan Huabing, China's ambassador to Laos.
Guan made this announcement during the launching of a photo exhibit showcasing the past accomplishments of China and Laos trade and economic ties. The exhibition was organized by China's Embassy in Laos, the Chamber of Commerce in Laos and the Laos-China Cooperation Commission.
Laotian Deputy Prime Minister Asang Laoly, and deputy ministers and senior officials from both countries were some of the exhibition's distinguished guests. According to Guan, the exhibit shows the accomplished positive results of China-Laos cooperation. China's embassy in Laos endeavored to further improve ties between the two countries and to boost trade and economic relations for increased abundance in the coming years, said Guan.
Vichit Xindavong, vice president of the Laos-China Cooperation Commission said that the exhibition shows the good results of cooperation between the two countries as improvements in trade and economy are realized.
"These pictures on display are just a small piece of the achievements in terms of cooperation, however all of the many accomplishments are unable to be shown," Vichit said.
Total Chinese investment in Laos based on November 2013 figures was at U.S. $5.085. China's total exports to Laos in 2013 amounted to U.S. $1 billion, a 46.41 percent leap from 2012 yearend figures. Total exports of Laos to China in 2013 meanwhile reached almost U.S. $800 million, a 10.29 percent rise from that of the previous year.
Trade between the two nations as of December 2013 reached U.S. $2.03 billion, a 29.62 percent increase from yearend figures of 2012.