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24 January 2010

Laos expects increase in two-way trade with India

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Trade between Laos and India, hit by global meltdown, was expected to grow in future following improvement in the situation, India’s state news agency PTI quoted a Laotian minister as saying.

"Currently the bilateral trade between India and Laos is $3 million and it has been growing by 20 percent. But due to global meltdown, it has come down. But, we hope it grows in future," Lao People's Democratic Republic Commerce and Industries Minister Nam Viyaketh said.

Laos government was committed to pushing forward internal reforms despite global fears of rising trade protectionism, Viyaketh told PTI on sidelines of Confederation of Indian Industries (CII) Partnership Summit in Chennai, India.

India had so far invested $350 million in Laos, he said adding the main source of business was in the forest sector.


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