ID :
30596
Mon, 11/17/2008 - 10:03
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https://oananews.org//node/30596
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First India Trade and Technology Exhibition opens in Vientiane
First India Trade and Technology Exhibition opens in Vientiane
(KPL) The first India Trade and Technology Exhibition opened last Friday at the Lao International Trade Exhibition and Convention Centre (Lao ITECC) Vientiane.
The India Trade and Technology Exhibition runs from 14-17 November.
The opening ceremony was attended by Mr. Suresh K.Goel, Ambassador of India to Laos, Deputy Minister of Industry and Commerce of Laos, Ms Khammani Pholsena, Deputy Minister of Planning and Investment Bounthavy Sisouphanthong and businesspeople.
The trade between India and Lao businesspeople at any recognizable level began only around two decades ago but it has been very small, the peaks having come in the year 2002 and 2004,” ambassador said.
In 2004, the trade volume was approximately US$8 million because of exports from India for a particular project. We have witnessed however, almost 100% growth in India-Lao PDR trade during the last year through normal exchange of goods.
The rapid economic growth in Lao PDR offers opportunities for considerable growth of bilateral trade and economic cooperation. Most of this growth must come through Indian companies taking advantage of investment opportunities and environment in Laos. With an average growth of 8percent, rich availability of natural resources like timber and minerals, development of energy related sector like hydropower offer fertile ground for India companies to establish their presence for value addition and different kinds of manufacturing activities.
The India of this exhibition originated around two years ago when increasing number of India companies began to favourably look at Laos for establishing their manufacturing operations locally. Any event of this kind needs through preparation and considerable engagement with local partners and cooperation of the government at all levels. The final decision to hold this exhibition was taken during the visit of the President of Lao PDR Mr Choummaly Sayasone to India from 26-30 August 2008.
The objective of the exhibition is to showcase the India technological capabilities and managerial expertise in industry, financial sector and other service. This event is testimony to the strong desire by India private sector to engage with Lao business in economic sectors of mutual interest.
There are some companies like Aditya Birla group, which has already taken advantage of liberal investment polices of the Government of Laos to invest US$350 million in a plantation and pulp project over a period of seven years. Kirloskar came here several years ago and they have become well known for providing a variety of pumps from small to big for irrigation projects in Laos.
Other companies like SPG mining have defied all odds to establish a joint venture in Huaphan province for iron ore mining. There are companies, which are looking at possibilities of making moulding equipment, wood processing, glass making etc.
(KPL) The first India Trade and Technology Exhibition opened last Friday at the Lao International Trade Exhibition and Convention Centre (Lao ITECC) Vientiane.
The India Trade and Technology Exhibition runs from 14-17 November.
The opening ceremony was attended by Mr. Suresh K.Goel, Ambassador of India to Laos, Deputy Minister of Industry and Commerce of Laos, Ms Khammani Pholsena, Deputy Minister of Planning and Investment Bounthavy Sisouphanthong and businesspeople.
The trade between India and Lao businesspeople at any recognizable level began only around two decades ago but it has been very small, the peaks having come in the year 2002 and 2004,” ambassador said.
In 2004, the trade volume was approximately US$8 million because of exports from India for a particular project. We have witnessed however, almost 100% growth in India-Lao PDR trade during the last year through normal exchange of goods.
The rapid economic growth in Lao PDR offers opportunities for considerable growth of bilateral trade and economic cooperation. Most of this growth must come through Indian companies taking advantage of investment opportunities and environment in Laos. With an average growth of 8percent, rich availability of natural resources like timber and minerals, development of energy related sector like hydropower offer fertile ground for India companies to establish their presence for value addition and different kinds of manufacturing activities.
The India of this exhibition originated around two years ago when increasing number of India companies began to favourably look at Laos for establishing their manufacturing operations locally. Any event of this kind needs through preparation and considerable engagement with local partners and cooperation of the government at all levels. The final decision to hold this exhibition was taken during the visit of the President of Lao PDR Mr Choummaly Sayasone to India from 26-30 August 2008.
The objective of the exhibition is to showcase the India technological capabilities and managerial expertise in industry, financial sector and other service. This event is testimony to the strong desire by India private sector to engage with Lao business in economic sectors of mutual interest.
There are some companies like Aditya Birla group, which has already taken advantage of liberal investment polices of the Government of Laos to invest US$350 million in a plantation and pulp project over a period of seven years. Kirloskar came here several years ago and they have become well known for providing a variety of pumps from small to big for irrigation projects in Laos.
Other companies like SPG mining have defied all odds to establish a joint venture in Huaphan province for iron ore mining. There are companies, which are looking at possibilities of making moulding equipment, wood processing, glass making etc.
