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Laos 'rubber exports face new opportunities and challenges. It is reported that Laos 'rubber planting area has exceeded 300,000 hectares, making it one of the country's main export products. However, so far, 100% of the rubber produced in the country has been exported in the form of raw materials because China has no processing plants. In addition, the quality of Lao rubber does not meet specific standards, limiting its competitiveness in the international market.
In order to solve this problem, Bounthong Buahom, chairman of the Lao Rubber Association, and Tran Yu Shun, chairman of the Vietnam Rubber Association, signed a memorandum of understanding aimed at promoting the development of the rubber industries in the two countries and achieving sustainable development goals. At the signing ceremony of the memorandum of understanding, Lao Minister of Agriculture and Forestry Phet Phomphiophak and other relevant Lao departments and industry officials also attended the signing ceremony.
According to the memorandum of understanding, the two sides will jointly share the development experience of the rubber industry, support the effective operation of Vietnam Rubber Company in Laos, and strive to obtain sustainable certification to achieve mutual benefit and win-win goals and strengthen cooperation in multiple fields. At the same time, the two sides also called on the Lao Rubber Association to actively support and attract more rubber processing companies to participate to meet the export needs of Vietnam and other countries.
It is worth noting that 85% of Laos 'current rubber planting has entered the harvest period, and the main export markets are China and Vietnam.
The signing of the memorandum of understanding will bring new opportunities to the development of Laos 'rubber industry and help it better participate in international market competition. It will also provide more possibilities for development cooperation for Vietnamese rubber companies.
