A Study On Bilateral Trade Between Laos And China

Regional economy integration has become an obvious trend for world economy development. Every country’s economy depends more on each other. ASEAN has realized the importance of economic cooperation among countries in the region. As the biggest developing country in the eastern region, Chinese economy enjoys prosperity and plays an important role in leading regional even global economy. China has speeded up the pace of joining in the regional economy integration and set up “China-ASEAN free trade zone” with ASEAN。The economic and commercial relationship between ASEAN and China enjoys thousands of years history. China borders with ASEAN and has similar culture with ASEAN. Laos is the friendly neighboring country with China since ancient time. Influenced by China, Laos chose gradual economic transformation model so that her economy growth is faster than that before reform and opening up. However, the achievement of Laos’ economic transformation is less obvious than that of China. Therefore, Laos has to raise the achievement of economic transformation and expands the multilateral regional economic cooperation with bordering countries, especially China, which is the only outlet for Laos to reform and open up. Strengthening the economic and commercial relationship between China and Laos and cross-country regional economic cooperation not only is benefit for economic transformation and development for Laos, but also benefit for prompting the construction of free trade zone between China and ASEAN and regional integration process. By comparing the economic developing status and features between China and Laos, complimenting the advantages of both countries is benefit for the bilateral economic development of China and Laos. The construction between China and ASEAN gives an opportunity for China and Laos to develop bilateral economy.