Laos, Chile to boost business, trade cooperation

VIENTIANE (Vientiane Times/ANN) - Laos and Chile are aiming to strengthen business and trade cooperation following the local business community’s official welcome for the Ambassador of Chile to Laos, Mr Jaime Chomali, in Vientiane on Tuesday.

Vice President of the Lao National Chamber of Commerce and Industry (LNCCI), Mr Daovone Phachanthavong, led the Lao delegation which included chamber officials and business operators.

During the meeting, the Chilean ambassador presented his country’s socio-economic credentials as well as trade and investment opportunities to boost cooperation between both nations.

Bilateral trade between Laos and Chile in 2017 achieved US$1.3 million but dropped to about US$600,000 in 2018. From January to July this year it reached US$430,000, the ambassador said.

Chile’s main exports to Laos are stone processing machinery and wine, while Laos’ exports to Chile comprise shoes, broadcasting accessories and non-knit men’s suits.

Both sides hoped the warm welcome would boost cooperation in business and trade and strengthen the relationship between the two countries.

During the occasion, the two delegations sampled Chilean wine with the South American nation being one of the world’s leading exporters. 

The LNCCI is an independent body which represents the business community in Laos. It currently has more than 1,000 members represented through Chambers of Commerce in 18 provinces and business associations and groups. That makes the LNCCI the largest and most representative business community in Laos.

LNCCI’s responsibility is to identify the problems and concerns of its members and make sure that they are presented to the government.

In this way, business policies and legislation are developed and adjusted for the improvement of the business environment in Laos.

The LNCCI represents the Lao business community in business negotiations and dealing with trade and labour issues at both regional and international levels to expand trade and investment.