China, Laos agree on cooperation

China and Laos have agreed on a plethora of cooperative projects after meetings between Chinese leaders and visiting Laotian President Bounnhang Vorachit.

From Tuesday to Thursday, Bounnhang is on his first China visit since being elected president in April. He has held talks with Chinese President Xi Jinping, Premier Li Keqiang, top legislator Zhang Dejiang and senior Communist Party of China official Liu Yunshan.

Bounnhang and his Chinese hosts reached broad consensus on relations between the two parties, the two countries as well as international and regional issues of shared interest, according to a joint statement released on Wednesday.

Both sides agreed to enhance integration of development strategies, coordinate their construction of regional trade infrastructure, and cooperate more in production capacity and investment.

The statement said they will push forward construction of the China-Laos railway and work together more closely on economic and technological development districts. China backs capable and credible enterprises to set up economic and trade cooperation zones in Laos.

In energy cooperation, China encourages Chinese companies and financial institutions to participate in energy development strategy in Laos, the joint statement said.

Bounnhang and the Chinese leaders also agreed to strengthen cooperation in agriculture, defense, law enforcement in border areas, people-to-people contact and cooperation at a local level.

China and Laos will continue to enhance collaboration in various international, regional and sub-regional mechanisms. China supports Laos holding the ASEAN's rotating chair this year.

On the South China Sea issue, the two countries agreed that maintaining peace, stability, cooperation and development of the South China Sea area is in line with the common interests of regional countries, calling on the parties directly concerned to resolve disputes peacefully through negotiation.

The Declaration on the Conduct of the Parties in the South China Sea should be implemented, the joint statement said, urging all sides involved to reach a Code of Conduct at an early date.

During Bounnhang's visit, China and Laos have signed 10 cooperative documents, including a cooperation plan between the two ruling parties, an agreement on economic and technological cooperation, and a memorandum of understanding on capacity and investment cooperation. Endi