Last year, the volume of bilateral border trade between Bokeo in Laos and Chiang Rai in Thailand reached over US$ 200 million.
In recent weeks, Bokeo Province signed an MoU with Thai authorities on cooperation to promote economic development and business matching in trade, investment, logistics of tourism services, One District One Product (ODOP) development, and human resource development.
The document was signed by President of Bokeo Provincial Chamber of Commerce and Industry Sisouphanh Silivong, and President of the Chiang Rai Provincial Chamber of Commerce Mr. Anurat Intorn, in the presence of relevant officials of both sides.
“The signing of this MoU is to create mechanisms for economic cooperation and create business networking which will promote and enhance the relations between Laos and Thailand in economics, trade, investments, and services,” said Mr Sisouphanh.
Last year witnessed Bokeo Province recording constant economic growth of 9.7% with annum per capita income reaching US$1,475.
The economic structure of the province has appeared to shift from being comprised mostly of agriculture and forestry to being based on industry and services.
The Agriculture and Forestry sector currently shares 40.9% of the provincial GDP structure, with industry sharing a 21.1%, and services taking a 37.9% stake.