After the arrival of over 100 racers in 45 hardcore off-road vehicles for the Belt and Road International Auto Rally of Yunnan province, China, the rally opened its 2016 trade fair in Vientiane yesterday.
The aim was to exchange trade between Chinese trade delegations along with rally participants and the relevant Lao trade organsitions.
The trade fair is a part of this year’s rally from Yunnan province in China, which has driven from Yunnan province through Southeast Asia and the Asean core area of the South Asia continent via Laos, Thailand, Myanmar, Malaysia and Singapore from September 26 to October 14.
The event aims to highlight the role of Yunnan as an important province in China’s opening towards South Asia and Southeast Asia, incorporate into the national “Belt and Road’ strategy and promote overall open cooperation with neighbouring countries and regions.
Meanwhile, it also aims to create an international branding sports event, build a platform for economic and cultural exchanges and cooperation with those countries along the route.
Vice President of the Lao National Chamber of Commerce and Industry Mr. Thanongsinh Kanlanga said at the trade fair that “This year is the 55th anniversary of diplomatic relations between Laos and China, while cooperation on economics and trade has also increased.”
He noted that the import-export value of both countries had reached US$3.6 billion in 2014, an increase of 13 percent compared to 2013.”
Mr. Thanongsinh added that trade value also reached US$1 billion in the first six months of this year, which is trending to increase.
The trade relations for import- export between Laos and Yunnan province in China has seen Laos exporting products including sweet corn, rubber and coffee while it also imports vegetables, fruits, tobacco and electrical goods.
President of Yunnan Provincial Sports Bureau Portal Ms Yiming Wang said yesterday that “This is the second time the rally has come to Laos. This trade fair is also the third after it was organised in Malaysia (October 5) and Thailand (October 8).Today it is in Laos.”
“Laos and Yunnan province of China share a land link and our country has currently become one of the biggest capital investors in Laos. Yunnan province is very interested in investments in Laos. The trade value between Laos and Yunnan reached US$400 million in the first six months of this year. Of this figure US$97 million was export value and US$310 million was import value.”
The rally was co-sponsored by Yunnan Provincial Sports Bureau and the Southeast Asia and South Asia Economy and Trade Cooperation Advancement Association of Yunnan province, and hosted by Beijing Auto Sports Culture Co; Ltd.
Source: Vientiane Times
