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Laos, India find common ground to enhance trade
A Lao trade delegation has promoted Lao investment policy in two Indian states by highlighting similarities to boost cooperation and by finding differences to open up business opportunities.
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| (From left) Dr Kikeo Chanthanboury, Mr Habib Mohammad Choudhury, Mr Shri T.R. Zeliang and Deputy Chief of Mission, Embassy of Laos to India, Dr Lattana Thavonsouk at the Lao-India Business Forum in Nagaland. |
A Lao delegation led by the Office Head of the Ministry of Planning and Investment, Dr Kikeo Chanthaboury, along with representatives from the Lao National Chamber of Commerce and Industry, businessmen, representatives from the Lao Embassy to India and the media attended the event.
The trade delegation arrived on November 29 and joined a business forum in Guwahati, Assam, at the Indian Federation of Industry and Commerce for the Northeastern Region. This was followed on November 30 by a business forum in Nagaland.
During the forum, Lao officials explained Lao investment policy and revealed business opportunities in Laos, while Lao business operators described their development potential.
Dr Kikeo made presentations at both forums saying that Laos is currently implementing its 2011-2015 five-year plan, which has an economic growth projection of not less than 8 percent per year.
“The private sector is considered an important contributor to this growth. Therefore, we make our policies very convenient and attractive.”
Dr Kikeo also highlighted the potential of Laos for investments in agriculture, mining and hydropower, as well as in tourism.
Officials from the Investment Promotion Department also highlighted the friendly environment and atmosphere of Laos.
In Nagaland, the Planning and Coordination Minister Mr Shri T.R. Zeliang welcomed the guests and briefed them on the state, pointing out the common potentials of the two areas.
Mr Shri T.R. Zeliang said Nagaland has potential in agriculture, particularly organic products, and has mineral resources that are still untapped and waiting to be explored.
Nagaland also has a wide variety of bee species and forest products as well as beautiful scenery, traditional crafts and the unique culture of its indigenous people, giving the area tourism potential.
“We also have significant policies in place such as the national government's North East Industrial and Investment Promotion Policy and the state government's industrial policy, tourism policy, IT policy, bamboo policy and a policy for organic cultivation,” he added.
Participants agreed that Laos and northeast India have similar strengths in agriculture and culture and also share the same challenge of being landlocked, making it difficult to get products to markets.
Laos is turning itself into a land link within the region, while northeast India also plans to be a land link when a road from northeast India to South East Asia and Laos is built, as part of the economic corridor.
Secretary General of the Lao National Chamber of Commerce and Industry Mr Khanthavong Dalavong said “As we share similarities, it makes cooperation easier because we can share our experiences and knowledge.”
“However, it is also important to explore our differences to create trade and investment opportunities. Lao businesspeople might find some products not available in Laos, while Indians might find products not available in India.”
Commissioner and Se-cretary of Industries and Commerce of the Government of Nagaland, Mrs L.H. Thangi Mannen, said “Personally, I think there is a high possibility that we can find the cooperation to promote trade and investment as we have similarities and potentials. There are also more areas we can share in such as education, health and technology.”
Chairman and Managing Director of HSMM Group Mr Habib Mohammad Choudhury is an example of Northeast Indian businesspeople maximising the potential of Laos, turning the country into a golden opportunity.
Speaking at the forum Mr Habib said “I found Laos the land of opportunities and I have proved that in my success. Laos is on the fast pace to development now, and there are a lot opportunities there.”
“Lao government policy is very supportive and the people are very friendly - it is a good place to live and to do business.”
Business connections between Laos and Nagaland began in 2008 when both parties held a business summit.
Official visits between Laos and Nagaland followed, and more recently a contract was signed between Laos and the government of Nagaland and HSMM Group for the cooperation, development, distillation and marketing of agar and other essential oils in Nagaland.
The visit is the fruit of the cooperation between the Indian Chamber of Commerce in Laos and the Lao National Chamber of Commerce and Industry, supported by the HSMM Group.
During the visit, the Lao trade delegation attended the opening ceremony of the ethnic Nagaland Hornbill Festival and watched the Hornbill International Car Rally competition.
vientianetimes
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