The headline-making visit to Laos last week by the Malaysian prime minister has resulted in landmark agreements to boost economic cooperation between Laos and Malaysia. The visit of Prime Minister Dato’ Sri Mohd Najib Bin Tun Haji Abdul Razak is a significant milestone in enhancing ties between the two nations through the signing of several important cooperation documents. Mr Najib brought with him about 70 Malaysian businessmen to explore investment potential in Laos, with enhancing trade and investment cooperation at the top of their agenda. The documents relate to the avoidance of double taxation, cooperation in the field of higher education, and sports cooperation. The Malaysian PM told the Lao media he wanted the private sector to be the driving force in helping and enhancing bilateral ties between the two nations. Laos and Malaysia have a tradition of good relations and cooperation since the two countries established diplomatic relations in July 1996. Malaysia is ranked the ninth biggest foreign investor in Laos. In 2008, the value of Malaysian investment stood at US$ 130.000, but since then it has risen to almost US$ US$ 11 million across 42 projects. This figure is considered small compared to investments by countries like Thailand, Vietnam and China.
Source: Vientiane Times
