A major supplier in Laos has said that petrol supplies in this country may face “some gaps” after the government held an emergency meeting to address soaring prices and panic buying.
Hanoi (VNA) – A major supplier in Laos has said that petrol supplies in thiscountry may face “some gaps” after the government held an emergency meeting toaddress soaring prices and panic buying.
Consumers hadto queue for hours to stock up on fuel asmany gas stations were closed last week, mediareported, noting that Laos relies on imports from neighbouring Thailand formost of its petroleum.
Thai oil and gas firm PTTOil and Retail Business Plc, which operates 53 gas stations in Laos, said itplans to distribute fuel as usual, but that there may be "gaps".
Last week, theVientiane Times said a weakened kip currency,high inflation, and an unstable global oil market are making it hard for fuelimporters to meet public demand.
TheLao Government played down the situation, saying it was "not that much ofa crisis", but held an emergency meeting and asked the public not to panic./.
Two-way trade turnover between Vietnam and Lao topped 403 million USD in the first quarter of this year, up 19.2 percent over the same period last year, according to the Vietnamese Trade Office in Laos.
Laos enjoyed increasing trade surplus in three consecutive months of this year, despite the continuing depreciation of the Kip and rising costs of production and consumables.
The Government of Laos has agreed with contractors to conduct a feasibility study for the construction of an expressway from Houaphanh province to the border with Vietnam under an agreement signed recently, Vientiane Times reported.
Since the establishment of their bilateral diplomatic ties in 1962, Vietnam and Laos have promoted cooperation across spheres, with their trade exchange posting substantial growth, benefiting both countries.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
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