NEWS

Bulgaria and Laos to intensify trade and economic relations

Bulgarian President Rosen Plevneliev and the head of the Laos People's Democratic Republic Choummaly Sayasone have agreed on intensifying bilateral trade and economic relations between the two countries. The two met at the Presidential Palace in Vientiane during the Ninth Summit of the Asia-Europe Meeting, which ends today. Bulgaria can use the key position of Laos in Southeast Asia, and relations between the two countries are based on trust and friendship, Presidents Plevneliev and Sayason emphasised. The two countries are outlining a plan for the development of bilateral relations.

Laos plans by 2020 to emerge from the list of least developed countries. The country reports an average annual GDP growth of eight per cent, but income per capita of only $1100. President Rosen Plevneliev highlighted several areas in which the two countries can develop their co-operation and in which Bulgaria has much useful experience to the Asian country. These include agriculture and water management, manufacturing, maintenance and repair of special products, as well as energy and pharmaceuticals, where Bulgaria has significant capacity and capabilities.

In the field of tourism and culture, President Plevneliev called for promotion of the cultural and historical resources of the two countries, including through visiting exhibitions at museums and organising of joint exhibitions to explore the two rich cultures.

President Plevneliev urged the Asian country to use the powerful voice of Bulgaria in the European Union. Bulgaria can support Laos to conclude a free trade agreement with the EU. President invited businesses in Laos to come to Bulgaria, one of the EU countries with the lowest business costs.

President Choummaly Sayasone said that Laos would support the re-election of Irina Bokova, Director-General of UNESCO, and accepted the invitation of the Bulgarian Head of State to visit the country at his convenience.