Russian minister Irek Faizullin (left) and Lao Minister of Planning and Investment, Mr Khamjane Vongphosy, shake hands after signing a protocol on economic, trade and technical cooperation.

Lao, Russian govts ink protocol on economic, technical cooperation

The 17th Session of the Intergovernmental Lao-Russian Commission on Economic-Trade, Scientific-Technical Cooperation took place in Vientiane on November 30.
The Russian delegation paid a working visit to Laos, where the 17th Session of the Intergovernmental Lao-Russian Commission on Economic-Trade, Scientific-Technical Cooperation took place.
Following the meeting, a protocol on trade, economic, scientific and technical cooperation was signed.
The document identifies promising new areas of bilateral cooperation in trade, banking and finance, industry, transport, energy, healthcare and others.
The delegation from Russia was led by the Minister of Construction, Housing and Utilities of the Russian Federation, Irek Faizullin.
Irek Fayzullin thanked his colleagues from the Lao People’s Democratic Republic for their reliable partnership with Russia. The two countries aim to fulfil the agreements already reached by the presidents of Laos and Russia.
Bilateral meetings took place between the head of the Russian Ministry of Construction, Housing and Utilities of the Russian Federation and the Lao Minister of Public Works and Transport, Mr Ngampasong Muongmany, as well as with Laos’ Deputy Prime Minister and Minister of Foreign Affairs, Saleumxay Kommasith.
Cooperation is already underway between the two countries in various areas and the number of tourists coming to Laos from Russia this year exceeded pre-pandemic 2019 levels.
Quotas are regularly provided for the training of Lao undergraduate and graduate students in Russian universities, and efforts are underway to increase trade turnover.
The two countries are interested in launching railway communications, searching for new trade and economic partnerships, and rebuilding logistics chains.
There are plans to increase the number of joint investment projects in the fields of hydropower, peaceful nuclear energy and the supply of medical equipment.

By Times Reporters 
 (Latest Update December 5, 2023)