BOOMING HIGH-QUALITY DEVELOPMENT
Infrastructure construction has opened up broader prospects for practical cooperation between China and ASEAN countries in a rich variety of areas, driving stronger economic growth, closer exchanges and high-quality development.
China is the largest foreign investor in Laos. A large chunk of the investment has funded infrastructure, development zones, as well as power transmission lines and hydropower plants, creating many jobs for local people and pushing forward Laos' industrial upgrade.
Daovone said that Laos sees huge potential for further deepening cooperation with China across such fields as agriculture, electric vehicles and trucks, electricity, mining, solar energy, tourism, as well as hotels and restaurants.
Agriculture is the mainstay of the Lao economy. Laos exports bananas, rubber, cassava, sugarcane and others, with China being the largest buyer.
Through the years, Chinese companies have collaborated with the Lao government on tropical agricultural science and technology, and Laos is seeking to promote sustainable agricultural production and increase exports to China through the China-Laos Railway.
Vietnam, meanwhile, is China's largest trading partner within ASEAN, and China has been Vietnam's largest trading partner since 2004. Annual volume of two-way trade has exceeded 200 billion U.S. dollars for three consecutive years.
Do, the Hanoi-based scholar, said that Vietnam-China "large cooperative projects on infrastructure, energy, and border area development have contributed to the socio-economic growth of both nations."
Vietnam-China trade cooperation "has bright prospects for deeper and more substantive cooperation in the future," she said.
She also said the introduction of fresh and frozen Vietnamese durians into the Chinese market shows the development of trade cooperation, exemplified by diversifying products within the same category and adding value.
With Chinese consumers' demand for durians on the rise, China is now the world's largest importer and consumer of durians. Last year, some 493,000 tons of fresh Vietnamese durians were sold to China.
Do also pointed out the abundant opportunities in substantive development of bilateral trade, noting the two countries can further enhance cooperation particularly in high-tech agriculture and e-commerce.
"China has advanced significantly in technology and innovation, while Vietnam is undergoing a digital transformation and developing its digital economy, creating great potential for cooperation in information technology, artificial intelligence, financial technology, and digital transformation in manufacturing," she added.
UCLG-ASPAC Committee on the Belt and Road Local Cooperation
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Secretariat of UCLG-ASPAC Committee on the Belt and Road Local Cooperation
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BOOMING HIGH-QUALITY DEVELOPMENT
Infrastructure construction has opened up broader prospects for practical cooperation between China and ASEAN countries in a rich variety of areas, driving stronger economic growth, closer exchanges and high-quality development.
China is the largest foreign investor in Laos. A large chunk of the investment has funded infrastructure, development zones, as well as power transmission lines and hydropower plants, creating many jobs for local people and pushing forward Laos' industrial upgrade.
Daovone said that Laos sees huge potential for further deepening cooperation with China across such fields as agriculture, electric vehicles and trucks, electricity, mining, solar energy, tourism, as well as hotels and restaurants.
Agriculture is the mainstay of the Lao economy. Laos exports bananas, rubber, cassava, sugarcane and others, with China being the largest buyer.
Through the years, Chinese companies have collaborated with the Lao government on tropical agricultural science and technology, and Laos is seeking to promote sustainable agricultural production and increase exports to China through the China-Laos Railway.
Vietnam, meanwhile, is China's largest trading partner within ASEAN, and China has been Vietnam's largest trading partner since 2004. Annual volume of two-way trade has exceeded 200 billion U.S. dollars for three consecutive years.
Do, the Hanoi-based scholar, said that Vietnam-China "large cooperative projects on infrastructure, energy, and border area development have contributed to the socio-economic growth of both nations."
Vietnam-China trade cooperation "has bright prospects for deeper and more substantive cooperation in the future," she said.
She also said the introduction of fresh and frozen Vietnamese durians into the Chinese market shows the development of trade cooperation, exemplified by diversifying products within the same category and adding value.
With Chinese consumers' demand for durians on the rise, China is now the world's largest importer and consumer of durians. Last year, some 493,000 tons of fresh Vietnamese durians were sold to China.
Do also pointed out the abundant opportunities in substantive development of bilateral trade, noting the two countries can further enhance cooperation particularly in high-tech agriculture and e-commerce.
"China has advanced significantly in technology and innovation, while Vietnam is undergoing a digital transformation and developing its digital economy, creating great potential for cooperation in information technology, artificial intelligence, financial technology, and digital transformation in manufacturing," she added.
