Laos’ trade value reached 962 million USD in February
Laos’ total trade value in February was estimated at 962 million USD (excluding electricity export), according to Lao Ministry of Industry and Commerce.
Vientiane (VNA) – Laos’ total trade value in February was estimated at 962 million USD (excluding electricity export), according to Lao Ministry of Industry and Commerce.
Of this, its export value stood at 505 million USD, mean a trade surplus of 48 million USD to the country.
Laos’ key exports included cassava (85 million USD), mixed gold and gold bars (46 million USD), copper ores (35 million USD), and paper and related products (28 million USD).
The country’s main imports consisted of diesel (83 million USD), mechanical equipment (31 million USD), vehicles (27 million USD), and steel and steel products (18 million USD).
Vietnam ranked third among the Laos’ export markets in the month with a total value amounting to 106 million USD. China remained the top export destination for the country and was followed by Thailand, with 173 million USD and 116 million USD, respectively.
Vietnam was also the third among the countries from which Laos imported the most with a total value of about 22 million USD. Thailand topped the list while China came second with 257 million USD and about 115 million USD, respectively./.
Two-way trade revenue between Vietnam and Laos in 2022 grew 24% from the previous year to reach some 1.7 billion USD, beyond expectations of their leaders at the 44th meeting of the Vietnam – Laos Inter-Governmental Committee on Bilateral Cooperation earlier last year.
Vietnam ranked third among Laos’ export markets in January with a total value amounting to about 65 million USD, while China remained the top export destination for the country and was followed by Thailand, with 156 million USD and 128 million USD, respectively.
The tourism sector in Laos has experienced a rebound following the COVID-19 pandemic and is steadily growing after most countries lifted travel bans and Laos also opened its borders to tourists.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
Illustrative image (Photo: kpl.gov.la)
