Electricity Trade Boosts Cambodia-Lao PDR Bilateral Trade
Lao PDR Foreign Minister Saleumxay Kommasith and Cambodia Deputy Prime Minister, Minister of Foreign Affairs and International Cooperation Prak Sokhonn. Photo by Lao PDR Foreign Ministry
Electricity trade between Cambodia and the Lao People’s Democratic Republic raised the annual value of bilateral trade to more than $100 million in 2020 from a previous value of $10 million-$20 million. This was noted by Cambodia Deputy Prime Minister, Minister of Foreign Affairs and International Cooperation Prak Sokhonn and Lao Foreign Affairs Minister Saleumxay Kommasith in their meeting on 16 February. Mr. Kommasith was in Phnom Penh, Cambodia, from 15-17 February 2022 to attend the ASEAN Foreign Ministers’ Retreat.
Lao PDR exports electricity to Cambodia. Furthermore, investment cooperation is also on the rise between the two countries—around 30 Cambodian companies have registered investment capital of $107 million in Lao PDR. Businesses from Lao PDR have also invested in Cambodia.
In the meeting, both Foreign Affairs Ministers agreed to expand cooperation in trade, investment, tourism and energy, and continue to collaborate and support one another through various regional and international frameworks, including ASEAN, the UN, and within the Mekong subregion.
They also agreed to promote the implementation of the memorandum of understanding of the 13th meeting of the Laos-Cambodia Joint Cooperation Committee (JC) in 2019 and prepare for the 14th JC meeting to be hosted by Cambodia.