Laos proposes establishing joint business council with Azerbaijan

Laos has proposed establishing a joint business council or working group between the chambers of commerce and industry of the two countries.

According to Report, the proposal was made by Executive Vice President of the Lao National Chamber of Commerce and Industry (LNCCI) Thanongsinh Kanlanya at the Azerbaijan–Laos Business Forum.

According to him, the body will be tasked with holding regular meetings and subsequently monitoring the business contacts established.

The chamber's vice president noted that the LNCCI is firmly committed to serving as a reliable link between the private sectors of the two countries and is fully prepared to facilitate, promote and actively develop productive business cooperation and the establishment of joint ventures between the two sides.

"In this regard, the Lao side proposes establishing a joint business council or a special working group to ensure regular consultations and the practical implementation of previously reached agreements. In addition, Laos considers it necessary for the governments of both countries to step up efforts to establish a legal and regulatory framework that guarantees the protection of investors' interests. Specifically, this would involve drafting and concluding an agreement on the promotion and reciprocal protection of investments, as well as an agreement on the avoidance of double taxation," Kanlanya emphasized.