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Saturday, July 20, 2024

Lao President Invites Mongolian Investors to Explore Business in Laos

This Week

Lao President Thongloun Sisoulith has invited Mongolian investors to explore business opportunities in Laos, particularly in agriculture and food processing during his two-day state visit to the country on 11-12 June.

The Lao President’s visit comes in response to an invitation from President Ukhnaagiin Khurelsukh of Mongolia, marking the first visit to the country by the Lao President in 17 years.

During their meeting, the two leaders agreed to deepen relations and cooperation between their landlocked nations, especially in economic and trade areas such as agriculture, services, transport, and tourism.

Both presidents also discussed plans for future collaboration in politics, defense, agriculture, education, and public health, highlighting the mutual trust and support between Laos and Mongolia, with regular contacts and visits between their leaders.

President Khurelsukh warmly welcomed his Lao counterpart, seeing it as a significant step to strengthen bilateral ties. In return, President Thongloun also expressed gratitude for the warm reception. He further invited the people of Mongolia to visit Laos during Visit Laos Year 2024 and thanked Mongolia for its past assistance and support.

The meeting concluded with the two parties witnessing the signing of three agreements, which focused on civil servant management, public health, and standards aimed at facilitating meat exports from Mongolia to Laos.

Laos and Mongolia established diplomatic relations in 1962. Since then, the two countries have fostered friendly relations and close cooperation. In November 2023, Mongolian President Khurelsukh further solidified this relationship with a state visit to Laos. During his visit, he engaged with top leaders from Laos and facilitated the signing of seven cooperation agreements, with a focus on economic affairs, trade, investment, and tourism.

Additionally, both countries continued to enhance their relationship by exchanging visits from top officials. In 2023, Xaysomphone Phomvihane, President of the National Assembly, visited Mongolia to discuss parliamentary cooperation with his counterpart. Meanwhile, in 2022, Saleumxay Kommasith, Lao Deputy Prime Minister and Minister of Foreign Affairs, also traveled to the country to deepen relations between the foreign affairs ministries of both nations.

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