First Indian trade, technology exhibition opens in Laos
The rapid economic growth taking place in Laos offers opportunities for considerable growth in bilateral trade and economic cooperation.
“Most of this growth must come through Indian companies taking advantage of investment opportunities and natural resources in Laos ,” said the Indian Ambassador to Laos , Mr Suresh K. Goel, at the inauguration of the first India Trade and Technology Exhibition in Laos on Friday.
Ms Khemmani Pholsena and Mr Suresh K. Goel cut a ribbon to open the exhibition at Lao-ITECC in Vientiane on Friday.
Average annual growth of 8 percent, rich availability of natural resources like timber and minerals, and development of energy-related sectors like hydropower offer fertile ground for Indian companies to establish their presence for value addition and various manufacturing activities.
In 2004, the trade volume between Laos and India was about 67.4 billion kip (US$8 million) because of exports from India for a particular project.
“We have witnessed, however, almost 100 percent growth in India-Laos trade during the last year through the normal exchange of goods. This is encouraging,” Mr Goel said.
India and Laos have been trade partners for several decades. The number of Indian businessmen who have become Lao citizens is evidence of the fact that Indian business people saw opportunities in Laos more than five decades ago and decided to make their home here.
Although trade between Indian and Lao business people at any recognisable level began only about two decades ago and has been limited, “the peaks have come in the years 2002 and 2004,” Mr Goel said.
The exhibition runs until today and features the products of Indian companies specialising in trade and technology.
The event originated around two years ago when an increasing number of Indian companies began to look favourably at Laos for establishing local manufacturing operations.
The exhibition has been arranged to showcase Indian technological capabilities and managerial expertise in industry, finance and other services. This event is testimony of the strong desire by the Indian private sector to engage with Lao business in economic sectors of mutual interest.
Vice Minister of Industry and Commerce, Ms Khemmani Pholsena, said India was among the fastest growing Asian economies and was increasingly playing a key role in terms of trade and technological innovation in the international arena.
The exhibition will bring about prosperity for both sides. Lao people, particularly the private sector, can benefit by seeing the success of Indian companies and can learn from that. “At the same time, Indian companies can explore ways to invest in Laos ,” Ms Khemmani said.
“This is the first time in the history of our bilateral trade relations we have welcomed such a big business delegation from India . It is a good and exceptional opportunity for the private sectors of both countries to meet and exchange views.”
“I believe the exhibition will help in facilitating our two countries' two-way trade. It is a traditional way to bring products from both India and Laos to the attention of interested people on a large scale, through this commercial exchange,” she said.
I think its great. We dont have to rellied on Thailand as a trade partner to much. We are too close as a people. We fight like a family member does. And dont rellied on vietnam as our protector.
I guess those Laos leader are not as stupid as Laos nok think. They have education. Many of the Ministers and speak 3 to 4 languages. They study economics from foreign countries. Good for Laos.
Anonymous wrote: RE: Will India have a big impact on Laos just like Chinese did?
I think Chinese will still be able to have bigger impact than India, due to bigger pocket, more economic progess... and but our new generations prefer to study in China in India.
Anonymous wrote: RE: Will India have a big impact on Laos just like Chinese did?
I think Chinese will still be able to have bigger impact than India, due to bigger pocket, more economic progess... and our new generations prefer to study in China then India
just wonder. india is a poverty country. there are so many poor people their. yeah, big country but it's a big poverty. any way, that's nice to see that they try to make things good for laos. thanks india.
just wonder. india is a poverty country. there are so many poor people their. yeah, big country but it's a big poverty. any way, that's nice to see that they try to make things good for laos. thanks india. -------------
Just like most of the developing countries, the gap between the rich and the poor are obvious. China has as many poor people as in India. Thailand entire region of Isan has poor people like in Laos.
China has a space program, so does India. One of the top 5 richest man in the world are from India. Not China.
I think its great. We dont have to rellied on Thailand as a trade partner to much. We are too close as a people. We fight like a family member does. And dont rellied on vietnam as our protector.
