The value of trade between Laos and Russian has reached more than US$3 million in the first four months of this year, reflecting increasing cooperation between the two nations. Delegates of the two nations convened at a meeting of the Lao-Russian Intergovernmental Commission on Economic, Commercial and Scientific Technical Cooperation in Moscow from June 18-19 to review their bilateral cooperation and enhance future collaboration. The meeting was co-chaired by Deputy Prime Minister and Minister of Foreign Affairs Dr. Thongloun Sisoulith and Head of the Russian Federal State Statistics Service Vladimir Sokolin. According to the Lao Ministry of Foreign Affairs, in the first four months of 2009 the value of bilateral trade was US$3.8 million, a 483.4 percent rise compared to the same period in 2008. Russia is the 13th largest investor in Laos. The Lao government has granted investment licences to Russian companies to develop four hydropower projects in southern Laos. Many other Russian companies have expressed an interest in investing in Laos.
Source: Vientiane Times
