The Problems and Countermeasures of the Bilateral Trade Between China and Laos

Abstract

The bilateral trade and economic cooperation between China and Laos has a long history, although the trade volume is relatively not such huge, but trade grows quickly. The economies of the two countries are highly complementary and have a wide range of areas for cooperation. The prospects for the economic and trade relations between the two countries are very promising. A good stable political relationship, the Mekong sub-regional international cooperation provide a broad platform for China and Laos bilateral economic and trade development. The establishment of the Asian infrastructure investment bank will provide financial services in Laos’ economy. There are also some problems in the bilateral trade relationship. Such as trade volume is low, unbalanced trade patterns, the investment structure is unreasonable, financial services lag issues such as insurance, are all factors which hinder the further development of trade between two countries. To solve above problems, we give some suggestions. To promote trade development by investment, make full use of complementary advantages, accelerate the construction of transportation infrastructure, create a good investment environment, etc. To further deepen the bilateral economic and trade cooperation, the joint efforts of the government and people of the two countries are needed. It is believed Laos and China's economic and trade relations between the two countries will come cross a brighter future.

Keywords: China, Laos, Bilateral trade, Problems, Countermeasures