Indonesian service sector enters Laos

REPUBLIKA.CO.ID, JAKARTA - The Director General of International Trade Cooperation of Trade Ministry, Iman Pambagyo, stated that service sector of Indonesia had entered the Laotian market.

"Our service sector has entered Laos. There are already some Indonesian workers in Laos who work in several fields, such as in hotels and restaurants," he said in a press release on Monday. "However, there is still a lot of potential in the Indonesian service sector that can be further developed and enhanced in Laos," Pambagyo added.

He noted that the Laotian economy relies heavily on agriculture, with the sector accounting for about 51 percent of the national gross domestic product (GDP) and absorbing 80 percent of the country's workforce. "The second most important economic sector of Laos is mining. The country is rich in copper, tin, gold and gypsum, among other minerals and metals," he pointed out.

Earlier, Indonesia and Laos signed a memorandum of understanding (MoU) on cooperation in communication improvement and bilateral consultation. The MoU was signed by Minister of Foreign Affairs Marty Natalegawa and the Deputy Prime Minister and Foreign Affairs Minister of Laos, Thongloun Sisoulith, at Ho Kham Palace in Vientiane, Laos, on Sunday.

The agreement was signed in the presence of President Susilo Bambang Yudhoyono and Laos President Choummaly Sayasone.

The event was also attended by several other Indonesian ministers, such as Minister of Education M. Nuh, Minister of Trade Gita Wirjawan, and Minister of Industry M.S. Hidayat. During his visit to Laos, President Yudhoyono is also scheduled to attend the 9th Asia-Europe Meeting (ASEM) Summit, held on Monday (November 5).