A Memorandum of Understanding on railway transport cooperation was signed in Vientiane on Wednesday by China’s Haihan International Logistics Co., Ltd., Soldrich Express Co., Ltd. from Thailand, and Sengxay Prosperity Trading Export-Import Co., Ltd. and SX International Trade Import-Export Sole Co., Ltd. from Laos.

The agreement was signed by Chairperson of SX International Trade Import-Export Sole Co., Ltd, Ms Sulynn Xanaxai; Chairperson of Sengxay Prosperity Trading Export-Import Co., Ltd., Ms Ladsamee Sitthingom; Chairperson of Soldrich Express Co., Ltd., Ms Thanunda Umphanteeranon; and Director of Haihan International Logistics Co., Ltd Mr Guanwa.

This cooperation in the use of the Laos-China railway will spur economic development, as the shipment of freight by rail will cut costs, save time, increase efficiency, and reduce the risks involved in other forms of transport.

The collaboration has the potential to enhance cooperation in trade and the overall trade in commodities by the three countries, especially as China is a huge emerging economy and has vast market potential for Laos and Thailand.

At the same time, lower transport costs and faster lead times will reduce costs for the agriculture and industry sectors. Cross-border trade will be simplified, which should enable these sectors to develop in leaps and bounds.

This cooperation in the transportation of goods includes fruits, food, and others.

According to vientianetimes.org.la