Lao NEWS on LNTV: President Choummaly begins attendance at 22nd APEC Meeting in China.10/11/2014

• published: 11 Nov 2014
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VO President Choummaly Sayasone begins attendance at 22nd APEC Economic Leaders’ Meeting in China INTRO: President Choummaly Sayasone attends the 22nd Asia-Pacific Economic Cooperation or APEC Economic Leaders’ Meeting in Beijing, China from November 9-11 at the invitation of Chinese President Xi Jinping. STORY: The Lao delegation was welcomed at the airport by APEC organizing board representatives, the Vice Chairman of Beijing Municipal People’s Council, Laos Ambassador to China along with Laos Embassy in China The President’s participation is to signify Lao’s policy of continuously integrating into the world, pursuing a higher degree of multilateral diplomacy and strengthening relationship with regional partners as a contribution to APEC’s common concerns and key points of its agenda. Themed “Shaping the Future through Asia-Pacific Partnership”, the summit discusses three matters of connectivity, the formation of a Free Trade Area of the Asia-Pacific (FTAAP) and new economic and trade links. In his remark, President Choummaly said, regional peace and stability are crucial as the interests of Asian-Pacific economies are closely intertwined, adding that the region will remain the most significant contributor to Lao’s economic progress in the near future. Fifteen documents, including leaders’ declarations on the summit and the 25th anniversary of the APEC’s establishment together with four appendixes and a statement of the Ministerial Meeting together with eight appendixes, are scheduled to be approved at the event. This year marks the 25th anniversary of the APEC’s establishment and 20-year implementation of the Bogor Goals of free and open trade and investment, aiming to enhance regional economic connectivity,promote creativeness, economic innovation and growth, as well as boosting regional linkage and infrastructure development. According to the president, Although the Lao PDR is small and least developed country, there are many untapped potentials to be explored and applied for mutual benefits. Those potentials and opportunities are shown in different dimensions. He said, the Lao PDR has a political stability, which is the basic criteria for its national development and growth. Geographical location of the Lao PDR is another important potential. Although the Lao PDR is a landlocked country, in term of sub-regional and regional cooperation, the Lao PDR is the centre of South East Asia’s connectivity. The Government of the Lao PDR has transformed the disadvantage of location to create an opportunity. At present, we are working closely with other ASEAN Member States to implement the Master Plan on ASEAN Connectivity by focusing, among others, on national infrastructure such as inland, river, and air transportation, as well as trade, investment and tourism, thus enhancing connectivity with the neighboring countries within the Greater Mekong Sub-region through the East-West Economic Corridor and the North-South Economic Corridor. The Lao PDR has invested in development and upgrading the national roads and railways in order to link the country with Asian Highway and Trans-Asian Railway network. At the present, there are four Lao-Thai Friendship Bridges across the Mekong River in operation, an ongoing construction of a Lao-Myanmar Friendship Bridge and a preparation for the construction of another Lao-Thai Friendship Bridge. The implementation of this connectivity policy will facilitate traveling, people-to-people connectivity, trade and investment exchange and tourism promotion in the region. The Lao PDR still has a potential and opportunity for development hydropower, which will supply clean energy to other countries in the Greater Sub-region. Therefore, the Lao Government has pursued of a policy to develop hydropower in the account of protection environment concurrently. At the same time, untapped natural resources in the Lao PDR are an opportunity to develop a tourism industry. President Choummaly also invite investors from Asia-Pacific and other regions to consider investing in the Lao PDR which is an economy of South-East Asia region, with potentials of natural resources, political stability, foreign investment promotion laws and facilities for ensure the benefits of foreign investors such as pursuance of special promotion policy and provide privilege for conducting business, low cost, price competitive and so on. The Lao PDR is welcome to receive all of you and do hope that you will seek an opportunity to visit and invest in the Lao PDR in order to work together to promote economic development of the Asia-Pacific region to be continuously growth.