Kolkata, 13th February 2024: A high level business delegation from India attended India-Lao Business Forum on Monday, 12th February 2024 to showcase the trade and investment potential between India and Lao PDR. The delegation focuses on exploring business opportunities and strengthening trade ties between the two countries as the year 2024 attaches immense importance to ASEAN trade linkages with Lao PDR assuming the ASEAN Chair for 2024.
The said programme has been organised under the aegis of the Embassy of India to Lao PDR by Indian Chamber of Commerce. ASEAN Indian Business Council and Lao National Chamber of Commerce and Industry are the collaborating partners.
In 2022-23, the two-way trade between India and Lao PDR was approximately USD 91 million. The main items of export from India were engineering goods including automobiles/spare parts or machinery required in energy sectors especially hydro dams, generic medicines and pharmaceutical products/equipment. Other items of Indian exports were ceramic tiles, leather skin, rice and agriculture products. During this period, India also imported from Lao PDR hard resin; timber/wood related products; lac, gums, resins & other vegetable saps; lead & lead articles; and iron & steel.
The 18 members delegation from the Indian side comprises representatives of sectors such as Mining, Minerals, Metals, Hydro Power, Energy, Construction, Tiles, Marbles, Healthcare and Pharma, Tourism and Hospitality, Textiles etc.
The India-Lao Business Forum held at Hotel Lao Plaza, Vientiane and was addressed by H E Mr Malaithong KOMMASITH, Minister of Industry & Commerce, Government of Lao PDR and H E Mr Prashant Agrawal, IFS, Ambassador of India to Lao PDR, Mr. Thanongsinh Kamlagna, Executive Vice President of Lao National Chamber of Commerce and Dr. Rajeev Singh DG, ICC among other dignitaries.
Over 175 Representatives of business community from India and Lao PDR met and discussed trade and investment opportunities in Lao PDR and engage in business to business networking.
This forum focused on topics like investment opportunities in Lao PDR, bilateral trade policies, foreign direct investment opportunities and cultural exchanges.
The Indian delegation will meet Ministry of Agriculture, Minerals and Energy over three days including a visit to Thanaleng Dry Port & Vientiane Logistics Park.
Lao PDR is a land-linked country with a strategic location, abundant natural resources, minerals, Agro products, excellent tourism landscape. Lao also gets duty free access to ASEAN market, India and several other developed countries due to its status as a Least Developed Country (LDC). It offers excellent trade and investment opportunities for Indian Companies. ICC delegation will explore such opportunities over three days at various forums, meeting and networking dinners.