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Indonesia to boost trade with Laos
Do you know which country in Southeast Asia has the fastest growing economy? Many people think that the answer is either the Philippines or Thailand
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D
o you know which country in Southeast Asia has thefastest growing economy? Many people think that the answer is either thePhilippines or Thailand. But the correct answer is small and land-locked Laos, whose economy has been growing more than8 percent over the last three years.
It was no surprise when Indonesian Foreign Minister Marty Natalegawa announced, in a press release on Friday, that bilateral trade with Laos had increased by almost 300 percent to US$27 million in 2012 from $9.9 million in 2011. It was a huge jump especially when compared to the bilateral trade of $4.20 million in 2008.
'In the future, we have to push for more direct trade between Laos and Indonesia,' Marty said after attending the Fourth Joint Commission Meeting in Vientiane.
Both countries, according to the press release, agreed to encourage more visits by businesspeople to boost trade, investment and cooperation in agriculture and education.
Many ASEAN countries like Thailand, Vietnam, Singapore and Malaysia have invested in booming Laos in various projects
