Press Releases
Business Meeting of Indian and Lao companies to promote trade and investment ties
Posted on: August 18, 2022 | Back | PrintEmbassy of India
Vientiane
Press Release
Business Meeting of Indian and Lao companies
to promote trade and investment ties
On August 12, 2022, the Embassy of India organized a business meeting of Indian and Lao companies to promote bilateral trade in pharmaceutical, engineering goods, automobile and automobile parts, agriculture and related sectors at Grand Hotel, Vientiane. The event was attended by representatives of nearly 35 Indian and Lao companies across diverse sectors, including some Indian companies providing IT solutions, banking and related sectors. Dokchampakham Group of Laos also presented a slideshow of many of their upcoming projects in clean energy, organic farming, smart cities, etc. to attract Indian investment.
In 2021, two-way trade between India and Lao PDR was approximately US$ 17 million (Source: GOI trade statistics). The main items of export from India were engineering goods including automobiles/spare parts or machinery required in energy sectors especially hydro dams, generic medicines and pharmaceutical products/equipment. Other items of Indian exports were ceramic tiles, leather skin, rice and agriculture products. During this period, India also imported from Lao PDR damar batu (hard resin); timber/wood related products; lac, gums, resins & other vegetable saps; lead & lead articles; iron & steel; misc. grains and seeds, etc.
The existing trade between India and Lao PDR is relatively small, however there is untapped potential and opportunities are available to enhance trade. The Embassy encouraged the Indian and Lao companies to network to tap new and exciting business opportunities in Laos as it opens its doors post Covid-19. In particular, the Indian companies were encouraged to explore investment opportunities in Laos especially in clean energy, agriculture including processing industries, smart cities projects as highlighted in Dokchampakham group presentation.
This was the second meeting hosted by the Embassy to promote commercial relations between India and Lao PDR. A similar meeting had been organized in April 2022 also.
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