Laos has made comprehensive achievements in various fields in recent years with the help of friendly neighboring countries, especially that of China, Laotian Prime Minister Bouasone Bouphavanh told Xinhua here.
"Laos has achieved fruitful results through reforms and its economy posted an growth of 8 percent in 2007," he said in an exclusive interview with Xinhua prior to the upcoming Third GMS Summit, where leaders of the six Greater Mekong Subregion (GMS) countries -- Cambodia, China, Laos, Myanmar, Thailand, and Vietnam-- will be meeting in Vientiane, Laos on March 30-31 to discuss the progress and chart future directions in GMS cooperation.
The Sixth five-year Socio-Economic Development Plan (2006-2010)of Laos was issued on the Eighth Congress of Lao People's Revolutionary Party held in 2006, which set up the goals of relieving Laos people from poverty by 2010, Bouasone said.
Laos posted gross domestic product (GDP) growth of 8 percent in2007, up from 7.5 percent in 2006. The country's GDP per capita rose to 678 U.S. dollars in 2007 from 443 dollars in 2006, 438 dollars in 2005, 200 dollars in 1985 and 76 dollars in 1975, according to its official figures.
Its inflation rate stood at 4.1 percent last year. Laos' currency, kip, was stronger against the U.S. dollar, which was over 9,300 kip for one dollar in 2007, compared with more than 10,000 kip for one dollar in 2006.
The Laotian government also attaches great importance to the education reform, health care, epidemic prevention and promoting of its traditional culture, Bouasone stressed, adding that the most underdeveloped country along the Mekong valley is now actively preparing for the South East Asian Games which will be held in 2009 in the Lao capital city of Vientiane.
"All these achievements not only owe to the joint effects of the Laotian government and people, but also the help and support from friendly countries, especially from its strategic partners including China," he said.
He deemed Sino-Laotian cooperation will be more efficient and pragmatic under the GMS economic cooperation mechanism.
The Third GMS Summit, with a theme of "Enhancing Competitiveness Through Greater Connectivity", aims to sustain and deepen economic cooperation and integration efforts among the GMS countries in order to better meet development challenges and realize the common vision of an integrated, harmonious and prosperous subregion.
Souce:Xinhua
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