Lao coffee producers partner with Chinese firm to grow coffee market in China
Lao coffee producers have partnered with a Chinese trading company to promote Lao strategic products, broaden agricultural cooperation, and boost coffee exports to China.
A Memorandum of Understanding to this effect was signed at Dao Coffee Co., Ltd. in Bachieng district, Champassak province, by the Vice President of the Lao Coffee Association, Mr Sengchanh Khammountha, CEO of Dao Coffee Co., Ltd. Mr Vannada Phomasthit, and President of Beijing Xixiang Yulong Trading Co., Ltd. Mr Eric Li.
The signing ceremony was attended by the Deputy Governor of Champassak province, Mr Somboun Heuangvongsa, government officials, local authorities, and representatives of Lao and Chinese companies.
The objective of the MOU is to create strategic cooperation, expand cooperation and the study of agricultural products in Laos, especially coffee and Dao coffee products in particular, which are of high quality and popular export products of international standard.
This cooperation will help to promote the coffee products of the Lao Coffee Association and Dao Coffee Co., Ltd. and deliver more coffee to the Chinese market through the Industrial and Commercial Bank of China network.
The Lao Coffee Association and Dao Coffee Co., Ltd. are prepared to cooperate in the export of coffee products. Beijing Xixiang Yulong Trading Co., Ltd. is encouraging the import of coffee, tea and associated products from Laos and its business covers trade, cultural tourism, finance, aviation and other projects between Laos and China.
The company will invest in online and offline channels in the next three years and concentrate resources on opening Lao coffee restaurants.
The company also plans to invest 20 million yuan and cooperate with Lao partners to jointly promote Lao strategic products such as Boloven Plateau coffee, Pakxong tea, and Pakse longevity wine, internationally.
Source: Vientiane Times