Vientiane, June 1 (VNA) - The Laotian Times reported on May 31 that Chinese businesses have signed an agreement to purchase 1.5 billion USD worth of agricultural products from Laos from 2021 to 2025.

Chinese companies will import 100,000 tonnes of peanuts, 100,000 tonnes of cassava flour, 100,000 tonnes of frozen beef, 200,000 tonnes of cashew nuts, 100,000 tonnes of mangoes, 50,000 tonnes of durians, 200,000 tonnes of soybeans, 100,000 tonnes of bananas and 500,000 tonnes of sugar.

Lao Minister of Industry and Commerce Khampheng Saysompheng, and Minister of Agriculture and Forestry Phet Phomphiphak attended the signing ceremony.

The Ministry of Agriculture and Forestry said Laos has been exporting seven agricultural products to China including corn, cassava, banana, rice, watermelon, sweet potato and bean.

Chinese agricultural companies have also begun to grow various fruits in Laos for export back to China. By 2020, a total of 239 Chinese companies had invested 590 million USD in agriculture and forestry in Laos, making China the country’s largest agricultural investor./.

VNA

Source from: Vietnam Plus(2021). Chinese firms sign agreement to import agricultural products from Laos. Retrieved from https://en.vietnamplus.vn/chinese-firms-sign-agreement-to-import-agricultural-products-from-laos/202386.vnp (June 01, 2021)