In response to an invitation of Mr. Sergey Lavrov, Minister of Foreign Affairs of the Russian Federation, Lao Foreign Minister Mr. Saleumxay Kommasith and his delegation paid an official visited to Russia during 15-17 June 2017.
The bilateral talks held between Minister of Foreign Affairs Mr Saleumxay Kommasith and Foreign Minister of the Russian Federation Mr. Sergey Lavrov, in Moscow on June 16. The two ministers highly valued the traditional relations, friendship and long-lasting cooperation between the two countries based on mutual trust, assistance and for mutual benefit. Laos and Russia have regularly exchanged visits of delegations of both countries, and the cooperation between two parliaments and between the ministries of national defense of the two countries had also been enhanced.
In addition, economic cooperation between the two countries has been strengthened. In 2016, the value of the two-way trade reached US$ 16.3 million. Meanwhile, the value of Russian direct investment in Laos was valued at US$ 52.7 million. Russia is ranked 22nd among foreign investors in Laos, investing in 23 projects which are primarily related to hydropower, energy, telecommunication, e-passport and banknote printing. Concerning tourism, the number of Russian tourists visiting Laos surpassed 10,000 in 2014, rising to more than 12,000 in 2015. With regards to education, the number of Lao students studying in Russia has seen increases year on year. In 2016, 87 Lao people were granted scholarships to study in Russian universities.
The two sides agreed to further support exchange visits of Lao and Russian delegations, ranging from top-level delegations to technical officials. In addition, the two ministers agreed to organize a further meeting between the deputy ministers of foreign affairs of Laos and Russia.
The two sides agreed to push for greater cooperation in areas related to economics and trade, investment, energy, education, science-technology, tourism, telecommunication and military matters.