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Laos, Thailand to triple two-way trade
Laos and Thailand pledged to increase bilateral trade between the two countries by three-fold by end of 2010, Lao news agency (KPL) reported Tuesday.
While the volume of trade and investment between Laos and Thailand has been trending upwards since 2006 but it is felt by the two countries that there is a need for the two countries to cooperate closely in order to reach the three-fold target.
In connection with this, good progress had been achieved so that by 2006 the volume of bilateral trade between the two countries doubled.
The bilateral trade cooperation plan was discussed during a meeting between Lao Ministry of Industry and Commerce and Thai Ministry of Commerce of Thailand, in Vientiane on July 1.
Minister of Industry and Commerce of Laos, Dr. Nam Viyakhet and Minister of Commerce of Thailand, Phonethiva Nakasai co-chaired this meeting and more than 70 officials from the two ministries attended this meeting.
During the meeting, they reviewed the previous MOU, discussed future plans, stressed the importance of the Single Stop Inspection (SSI) system that was used to facilitate speedier loading and they agreed to promote each other's trade items by showcasing them in exhibitions.
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