Lao, Chinese companies cooperate to boost livestock production for export to China
Lao and Chinese companies have agreed to set up a livestock production joint venture for export to China.
Lao and Chinese companies have agreed to set up a livestock production joint venture for export to China. The Intergrated Agricultural Joint Venture Co., Ltd. of Laos, Tianjin Ringpu Biotech Co., Ltd. of China and the China-ASEAN Innovative Academy for Major Animal Disease Control signed the related Memorandum of Understanding in Vientiane, capital of Laos, on Wednesday. According to the MoU, the three parties will set up a beef production joint venture, establish technical standards for large-scale healthy cattle breeding, establish a protocol for the prevention and control of major animal diseases as well as requirements for hygiene in order to meet quarantine standards for export to China and conduct industrial training programs.
Chinese companies have agreed to set up a joint venture to produce cattle for export to China. Their efforts are expected to contribute to the local cause of poverty alleviation and modernization of the livestock industry in the Southeast Asian country. Under an intergovernmental agreement on cattle production, Laos was granted a quota of 500,000 cattle to export to China. In 2021, Laos earned more than US$900 million from the export of agricultural products, reaching 82% of its target. China is a key buyer of agricultural products from Laos, according to data from the Lao Trade Portal website.
Source: This news is originally published in English