15:10 | 06/09/2018 Global Economy
Laos and Thai officials were holding a major trade meeting on Tuesday as the neighboring countries seek to identify measures to boost the value of their shared trade.
The meeting, scheduled to be held in the Lao capital Vientiane from Tuesday to Thursday, saw officials from the two countries discuss more measure to increase bilateral trade to US$10 billion by 2021, local daily Vientiane Times reported.
In 2017, trade between Thailand and Laos amounted to US$6.17 billion, up 5.1 percent from the previous year.
Thai Commerce Minister Sontirat Sontijirawong was quoted by the online Bangkok Post as saying last week that the Lao-Thai joint trade meeting is seen as a strategic move by the Thai government to foster trade relations with Laos.
Among the key goods imported by Laos from Thailand are finished oil, automobiles and parts, steel and steel products, livestock, chemicals, cosmetics, soap and acne treatment products, machinery and parts, fresh and frozen poultry, and plastic products.
Laos' exports to Thailand are mainly hydroelectric power, agricultural products and other natural resource-based products.