China to import 700 tonnes of lacquer from Laos

(KPL) Kunming Suwel Bio-Technology (China) has committed to buying 500 tonnes of lacquer from Luang Prabang and 200 tonnes from Sayaboury next year.

The Chinese company made its commitment on an MOU on preparing for establishing a joint-venture Lao-Chinese Lacquer Industry Company, which was signed in Luang Prabang with a local company Luang Prabang Import - Export Agriculture-Forestry Development.

Signatories to the document were the presidents of both company Mr. Somsack Chanthafon (Lao side) and Mrs Li Lin.

Witnesses to the signing ceremony were Head of Luang Prabang Industry and Commerce Service, Mr. Houmpheng Souvannaphakdy, and relevant officials of both sides.

On the MOU Lao business is allowed to invest at most 49 per cent and at least 40 per cent of the total registered capital of the joint-venture company.

KPL