Laos and Malaysia signed a series of bilateral cooperation agreements during the Malaysian Prime Minister Najib Razak’s visit to the country from June 2-4.
They include a memorandum of understanding on double taxation avoidance, agreements on tertiary education and sports and contracts concerning the Savan-Seno special economic zone and Sahong hydro-power project in the southern province of Champassak.
Earlier, Laotian Prime Minister Bouasone Bouphavanh and his Malaysian counterpart PM Razak held talks, confirming that they were both committed to strengthening their bilateral friendship and expanding cooperation. The Malaysian PM agreed to help Laos develop its human resources and promote investments in Laos.
When addressing the Laotian-Malaysian business forum, PM Razak stressed that the business communities of both countries have many opportunities and added that he hoped to see an increase in Malaysian investments in Laos.
Malaysia is the ninth largest foreign investor in Laos with total investments now reaching 150 million USD. Most of the Malaysian companies operating in Laos are involved in banking, construction, electricity production and real estate.
Malaysian exports to Laos include spare parts and mechanical equipment, garments and textiles, electrical and electronic equipment, which were worth 7.4 million USD in 2009. Last year Malaysia imported machinery and wood processing equipment worth 123 million USD from Laos.
Both countries now have a direct flight linking Vientiane and Kuala Lumpur three times a week operated by Air Asia.
Malaysia is currently considering opening other direct flights to the southern province of Pakse and other Lao localities./.
They include a memorandum of understanding on double taxation avoidance, agreements on tertiary education and sports and contracts concerning the Savan-Seno special economic zone and Sahong hydro-power project in the southern province of Champassak.
Earlier, Laotian Prime Minister Bouasone Bouphavanh and his Malaysian counterpart PM Razak held talks, confirming that they were both committed to strengthening their bilateral friendship and expanding cooperation. The Malaysian PM agreed to help Laos develop its human resources and promote investments in Laos.
When addressing the Laotian-Malaysian business forum, PM Razak stressed that the business communities of both countries have many opportunities and added that he hoped to see an increase in Malaysian investments in Laos.
Malaysia is the ninth largest foreign investor in Laos with total investments now reaching 150 million USD. Most of the Malaysian companies operating in Laos are involved in banking, construction, electricity production and real estate.
Malaysian exports to Laos include spare parts and mechanical equipment, garments and textiles, electrical and electronic equipment, which were worth 7.4 million USD in 2009. Last year Malaysia imported machinery and wood processing equipment worth 123 million USD from Laos.
Both countries now have a direct flight linking Vientiane and Kuala Lumpur three times a week operated by Air Asia.
Malaysia is currently considering opening other direct flights to the southern province of Pakse and other Lao localities./.
