Cambodia, Laos Committed to Boosting Further Cooperation

Cambodia, Laos Committed to Boosting Further Cooperation

Cambodia and Laos are committed to strengthening bilateral cooperation on all sectors, especially socio-economic development.

The commitment was made in a virtual bilateral meeting held today between Cambodian Prime Minister Hun Sen and recently-elected Lao Prime Minister Phankham Viphavanh.

In the meeting, Mr Hun Sen expressed his confidence in the Lao Prime Minister’s vast experiences and strong leadership to bring greater socio-economic development and prosperity for the Lao people.

“The two Prime Ministers expressed their mutual satisfaction for the cordial relations between the two countries based on the bond of traditional friendship and good neighbourliness,” said the press release issued by the Ministry of Foreign Affairs.

“They agreed to expedite the finalisation of the draft partnership action plan in order to further strengthen their close ties of cooperation in the field of political-security, trade, investment, education and culture,” it said.

Both premiers noted their satisfaction on the significant increase of bilateral trade, which has grown from a mere $10 million in 2019 to $104 million in 2020.

To boost investment in both countries, both premiers agreed to expedite the negotiation of the Agreement on the Avoidance of Double Taxation.