Photo credit: Bank of Lao PDR
On 9 January, Laos and Viet Nam officially launched a cross-currency transaction service, connecting their cross-border retail payment systems via QR codes.
The ASEAN Federation of Forwarders Associations (AFFA) met on 2 December 2023 in Phnom Penh, Cambodia, for their 33rd annual meeting, and discussed facilitation of goods transportation via inter-governmental cooperation in the region.
ASEAN countries have emphasized the development of logistics services, infrastructure, and trade facilitation measures, and promoting intra-bloc connectivity.
Lao PDR Prime Minister Sonexay Siphandone, in his meeting with the Chairman of the Guangxi Zhuang Autonomous Region (GZAR), People's Republic of China (PRC), Mr. Lan Tianli, expressed hopes of enhancing their relationship further.
The Laos-China Railway Co., Ltd. (LCRC) continues to increase its capacity with the procurement of a new electric multiple unit (EMU) train in September. The added EMU will accommodate the growing number of train passengers and support Visit Laos Year 2024.
Photo via Vientiane Times
Construction work on the 5th Lao-Thai Friendship Bridge has surpassed 72% completion, and is expected to be completely finished by the end of 2024. The bridge will connect Paksan, Bolikhamsai Province (Lao PDR) to Bueng Kan Province (Thailand) across the Mekong River. The bridge is set to further boost connectivity in the GMS.
Photo by Kaikeo Saiyasane via Xinhua
A freight transit yard where cargo is transferred for transshipment has been put into operation by the People’s Republic of China (PRC) – Lao People’s Democratic Republic (Lao PDR) Railway on 1 July 2022 at the Vientiane South Station. The freight yard promises to boost the PRC-Lao PDR railway’s logistics, improving the link between the railways of PRC-Lao PDR and Thailand.
Thailand will accelerate its railway connectivity, in line with the opening of the railway link between the People’s Republic of China (PRC) and Lao People’s Democratic Republic (Lao PDR) in December 2021.
Thailand’s Ministry of Commerce’s Trade Policy and Strategy Office (TPSO) organized the CLMVT+ Forum 2021 on 24-26 August. The forum highlighted the TPSO study emphasizing the importance of achieving an even economic recovery in the GMS.
Trade promotion agencies of Cambodia, India, Thailand, and Viet Nam held an event promoting cross-border trade connectivity between India and countries in the Greater Mekong Subregion (GMS) on 19 August. Representatives from each country gave briefings on their business environment and exchanged experiences in facilitating trade and investment cooperation. Noting challenges caused by COVID-19, they urged governments to take measures to help their small and medium-sized enterprises (SMEs) move beyond national borders and expand markets.
The Governments of Lao People’s Democratic Republic and Viet Nam inaugurated the Dakta Ok (Se Kong, Lao PDR) – Nam Giang (Quang Nam, Viet Nam) border gates on 14 August 2021, which were upgraded to international status this year. This new international cross-border point is expected to further boost bilateral trade, investment, and tourism, and promote opportunities for cooperation between Viet Nam’s central key economic zone and Lao PDR’s south-central region, as well as Thailand’s southeast region.
Greater Mekong Subregion Secretariat
Regional Cooperation and Operations Coordination Division,
Southeast Asia Department, Asian Development Bank
Address: 6 ADB Avenue, Mandaluyong City 1550, Metro Manila, Philippines
Telephone: +63 2 8632 4444 Fax: +63 2 8636 2226