The minister said in a press statement received here on Sunday there was still room for increasing the two countries` trade after all obstacles were overcome.
"Most of the Indonesian food products in Laos for example enter that country through ASEAN member countries that have had better connectivity with Laos although their prices are higher due to additional transportation cost," he said after accompanying President Susilo Bambang Yudhoyono in a meeting with Laos` prime minister.
Gita said Indonesia`s exports to Laos rose 22.19 percent from 2007 to 2011 reaching US$8.6 million in 2011.
"Indonesia`s imports from Laos meanwhile grew negatively by 5.53 percent in the same period worth US$1.3 million in 2011 so Indonesia enjoyed a surplus of US$7.3 million last year," he said.
The director general of international trade cooperation, Iman Pambagyo, meanwhile said that Indonesia`s service sector had started entering Laos.
"Although the value is still small some Indonesia manpower has already been working there such as restaurant and hotel managers," he said.
Regarding products he said Indonesia has the potential to export food and beverage products, motor vehicles and their parts, medicines as well as agricultural machineries.
Laos` economy itself is dominated by agriculture which contributes around 51 percent of that country`s Gross Domestic Product and absorbs 80 percent of that country`s workforce.
Another important sector in Laos is mining especially copper, tin, gold and gypsum mining in addition to other commodities and sectors such as forestry, electricity, construction, garment, cement and tourism.
President Yudhoyono and a number of cabinet ministers were in Vientiane to attend the 9th Asia-Europe Summit (ASEM) from November 5 to 6.
The meeting is scheduled to discuss several important issues such as political and security, economic and financial as well as global and regional issues, cooperation and culture.
(P012/H-YH/O001)
Editor: Jafar M Sidik
Copyright © ANTARA 2012
