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Krungsri-LDB Global Transfer boosts economic relations between Thailand and Lao PDR


published :
23 Dec 2020 at 10:43
As bilateral ties between Thailand and Lao PDR date back to the Ayutthaya era, the two countries share a border and have linguistic and cultural similarities.
Both economies rely largely on international trade, registering around USD5 billion a year in bilateral trade and rising steadily.
Although Lao PDR does not have territory connected to the sea, it is located in the center of the Cambodia, Lao PDR, Myanmar, Vietnam, Thailand (CLMVT) group as well as China, making the country an important gateway for transportation, tourism and trade.
The International Monetary Fund (IMF) expects Lao PDR to have an average annual economic growth rate between 2018 and 2022 of approximately 7%, the highest among CLMVT countries. Thailand ranks no. 1 for imports and no. 2 for exports to Lao PDR after China. ....

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