Political ties with Laos “have been elevated to the level of strategic partnership”, Prime Minister Viktor Orbán said after talks with Thongloun Sisoulith, his Laotian counterpart, in Budapest on Monday.
At a joint press conference after the talks, Orbán said that Hungary would open a representation in Laos, and that the two countries would open the fourth phase of a tied aid programme.
He said that
Hungary had also opened a 45 million dollar credit line to support of bilateral cooperation between businesses.
Orbán added that the loans Hungary has provided to finance investment projects in Laos have now amounted to several tens of millions of dollars and the turnover of bilateral trade has increased six-fold in the past two years.
Orbán said that education was a key area of cooperation, with over 300 people that graduated from Hungarian universities now in senior positions in Laos, and 186 Laotian students currently studying in Hungary. Parties at the talks agreed that Hungary would provide scholarships to 100 students annually.
Sisoulith applauded the elevation of bilateral ties onto a strategic level.
He thanked for the Hungarian government’s financial support which Sisoulith said would greatly contribute to his country’s economic development goals.
As we wrote today, Hungary will raise its bilateral ties with Laos to a strategic level, Foreign Minister Péter Szijjártó said after talks with Saleumxay Kommasith, his Laotian counterpart, in Budapest on Monday, read more HERE.