President of the Republic of Korea (RoK) Park Geun-hye and her Lao counterpart Choummaly Sayasone held talks in Seoul on November 22 with a focus on how to boost economic cooperation between the two countries.

The Lao President is paying a three-day visit to the RoK from Nov. 21, the first made by a Lao President since 1995.

The two leaders discussed how to combined the abundant natural resources of Laos and the RoK’s advanced technology, as well as measures to enable RoK companies to join infrastructure projects in Laos.

After the summit, the two sides signed a memorandum of understandings on the Economic Development Cooperation Fund’s (EDCF) provision of a 200 million USD loan to Laos between 2014 and 2017 and another on cooperation on preserving historic sites in the Champasak region in southwest Laos.-VNA