Laos could serve as a gateway to the ASEAN market for Azerbaijani companies, Deputy Minister of Industry and Commerce of Laos Manothong Vongsay stated during his speech at the Azerbaijan-Laos Investment and Business Forum held in Baku, APA-Economics reports.
The Lao People’s Democratic Republic has a clear strategy to transform from a landlocked country into a transport and logistics hub connecting regional markets and facilitating the movement of goods and people.
According to him, this strategy is aligned with the goals of strengthening regional connectivity, including China’s Belt and Road Initiative:
“The Laos-China railway is an important achievement in implementing this strategy. In addition to playing an important role in passenger and freight transportation between Laos and China, it also strengthens connections with neighboring countries and regional markets. At the same time, the Lao government continues to improve domestic infrastructure and cross-border transport links. In this regard, the government has decided to implement the Laos-Vietnam railway project, which will connect the Lao capital Vientiane with Vietnam’s Vung Ang seaport. The Vientiane-Hanoi expressway is another important transport project that will strengthen connectivity between the two countries and improve access to Vung Ang seaport. Under these circumstances, I believe that Laos can serve as an important gateway for Azerbaijani companies seeking access to the ASEAN market (markets of Southeast Asian countries). By connecting the Baku port with Southeast Asian markets through the regional transport network and the Laos-China railway, we can explore new opportunities.
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