BAKU, Azerbaijan, October 14. A joint business council or working group is proposed to be established between Laos and Azerbaijan to strengthen ties between business circles of the two countries, Executive Vice President of the Lao National Chamber of Commerce and Industry (LNCCI), Thanongsinh Kanlagna, said at the Azerbaijan-Laos Business Forum held in Baku on Wednesday, Trend’s correspondent reports from the event.
According to him, there is great potential for expanding cooperation between Azerbaijan and Laos in the fields of trade and logistics, energy, investment, tourism, and digital transformation.
During his speech, he thanked the Azerbaijani side for organizing the forum and expressed his pleasure at being in Baku.
According to Kanlagna, although Azerbaijan and Laos are geographically distant from one another, both countries play a significant role in strengthening inter-regional ties.
"Azerbaijan connects the Caspian Sea, Central Asia, and Europe via the Middle Corridor, while Laos aims to become a regional transit hub. Today, we ask a simple question: how can these two 'bridges' be better linked for the benefit of our countries, neighboring states, and the regions as a whole?" he noted.
The chamber executive highlighted trade and logistics as the primary areas for cooperation. According to him, Laos offers access to the Association of Southeast Asian Nations (ASEAN) market, which comprises a population of over 680 million, while Azerbaijan holds a strategic position providing access to markets in the Caucasus, Türkiye, Central Asia, and Europe. He noted that trade and logistics companies from both countries could establish alternative routes to deliver Laos's coffee, rice, and other agricultural products, as well as Azerbaijan's food, petrochemical, and industrial goods, to new markets.
Kanlagna also identified energy and the green transition as promising areas for cooperation. According to him, Azerbaijan possesses extensive experience in the energy sector and is investing in renewable energy projects. Meanwhile, Laos aims to play a key role in Southeast Asia's energy supply by leveraging its hydropower potential, while also developing its solar and wind energy sectors.
He emphasized that opportunities exist for cooperation in these areas regarding the exchange of technology and investment, the improvement of energy management, and efficient energy distribution and consumption.
The executive vice president of the LNCCI also highlighted the importance of leveraging the opportunities offered by special economic zones within the framework of investment cooperation. He noted that there are over 20 special economic zones operating in Laos that encourage investment in manufacturing, agricultural processing, high-tech industry, and the service sector.
"I invite representatives of Azerbaijan's investment community to explore the opportunities available in Laos's special economic zones. At the same time, we encourage investors from Laos to take advantage of the opportunities offered by Azerbaijan's special economic zones and to benefit from the country's experience in investment promotion," he stated.
Kanlagna also identified tourism, digital transformation, and human capital as key areas for cooperation. According to him, the rich cultures, traditions of hospitality, and tourism potential of both countries create favorable conditions for implementing joint initiatives in this sector. He pointed out the importance of expanding cooperation in areas such as tourism promotion, digital trade, e-government services, and the development of small and medium-sized enterprises (SMEs), as well as fostering connections, particularly among young entrepreneurs.
The chamber executive also said that the Lao National Chamber of Commerce and Industry is ready to support the establishment of ties and the development of business partnerships between the private sectors of the two countries.
According to him, the chamber covers Laos's 17 provinces and the capital, Vientiane, uniting over 5,000 registered companies. Training and service centers dedicated to supporting SMEs operate in five of the country's key provinces.
Kanlagna added that, in cooperation with the Lao Ministry of Industry and Commerce, the chamber supports the sustainable development of local enterprises, the expansion of export opportunities, and integration into regional supply chains through the Small and Medium Enterprise Promotion Fund.
He mentioned that the effectiveness of business forums should be measured by the concrete results achieved. To this end, Kanlagna put forward three proposals: the establishment of a joint business council or working group to ensure ongoing cooperation between the chambers, the continuation of work on agreements regarding investment promotion and protection, as well as the avoidance of double taxation, and the organization of reciprocal business delegation visits.
"We propose organizing reciprocal visits to foster business ties. This process could begin next year with a visit by an Azerbaijani business delegation to Vientiane. We would be pleased to welcome you," he emphasized.