Domestic news

Foreign ministers of Laos and RoK holds bilateral meeting in Seoul

(KPL) A bilateral meeting between Mr. Thongloun Sisoulith, Deputy Prime Minister and Minister of Foreign Affairs and Mr. Yun Byung-se, Minister of Foreign Affairs of the Republic of Korea was held in Seoul on 29 July.

During the meeting, the two Ministers noted with appreciation that the historic visit to the ROK by President Choummaly Sayasone in November 2013 had helped upgrade the ROK-Laos relations a notch higher.

They agreed to make active efforts to implement the measures agreed upon by their two leaders in order to further expand bilateral exchanges.

The sides expressed their satisfaction over their friendship relation and cooperation made during the past 19 years and will jointly celebrate the 20th anniversary of the diplomatic ties of the two countries in 2015.

They also highly estimated their economic cooperation which is now considered in the growing step.

The two countries have strengthened their trade cooperation by which the two trade value in 2013 has reached US$199 million, increasing US$23 million from 2012.

Today, the Republic of Korea is the fourth largest investor with 291 investment projects in Laos and the exchange between people to people has constantly increased since the start of direct flights between the two countries in November 2013.

They also expressed their satisfaction over the progress of their cooperation for development. RoK is a good development partner for development of Laos and has assisted the socio-economic development of Laos over past years averaging about US$40 million annually.

The assistance was mainly in the areas of infrastructure development, agriculture, education and health with nine ongoing projects.

So far, the Republic of Korea are 9 ongoing grant aid projects and  is in the process of issuing low-interest loan projects from its economic development cooperation fund for 2014-17.

The good model for Laos-ROK cooperation projects are those related to agriculture development with participation from local people. A pilot project is now operating in Tholakhom district, Vientiane province.

At the end of the meeting, Mr. Thongloun also expressed thanks to the government and people of the Republic of Korea for their invaluable assistances for the social-economic development of Laos and invited Mr. Yun Byung-se to visit Laos during his convenient time.

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