Laos seeks to export rice to Brunei

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Laos riceThe Lao government has said that it is ready to export rice to Brunei and has invited officials from Brunei’s Finance Ministry to conduct a feasibility study in the country, according to local sources.

The outgoing Laos ambassador in Brunei says that the two nations have “a strong relationship” and have proposed for a barter trade under which Laos could trade goods such as rice and furniture in exchange for oil and gas from Brunei.

Laos produces about 1.5 million tonnes of rice, most of which is consumed locally. However, Laos aims to increase rice production by around one million tonnes and become an exporter of rice by 2015 when the ASEAN Economic Community is likely to be implemented in Southeast Asia.

Brunei is also trying to improve domestic production (now at around 1,000 tonnes of rice) and diversify its rice suppliers. Last month, Brunei invited foreign firms to produce rice in the country to help increase employment.

In return, Brunei promised foreign companies that the government will buy rice from them at $1,260 per tonne. At present, Brunei imports around 50,000 tonnes of rice annually, with Thailand accounting for around 95 per cent of Brunei’s rice imports. Brunei has said in the past that it wants to reduce dependency on a single supplier and plans to buy rice from Cambodia, Laos and Vietnam.

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Reading Time: 1 minute

The Lao government has said that it is ready to export rice to Brunei and has invited officials from Brunei’s Finance Ministry to conduct a feasibility study in the country, according to local sources.

Reading Time: 1 minute

Laos riceThe Lao government has said that it is ready to export rice to Brunei and has invited officials from Brunei’s Finance Ministry to conduct a feasibility study in the country, according to local sources.

The outgoing Laos ambassador in Brunei says that the two nations have “a strong relationship” and have proposed for a barter trade under which Laos could trade goods such as rice and furniture in exchange for oil and gas from Brunei.

Laos produces about 1.5 million tonnes of rice, most of which is consumed locally. However, Laos aims to increase rice production by around one million tonnes and become an exporter of rice by 2015 when the ASEAN Economic Community is likely to be implemented in Southeast Asia.

Brunei is also trying to improve domestic production (now at around 1,000 tonnes of rice) and diversify its rice suppliers. Last month, Brunei invited foreign firms to produce rice in the country to help increase employment.

In return, Brunei promised foreign companies that the government will buy rice from them at $1,260 per tonne. At present, Brunei imports around 50,000 tonnes of rice annually, with Thailand accounting for around 95 per cent of Brunei’s rice imports. Brunei has said in the past that it wants to reduce dependency on a single supplier and plans to buy rice from Cambodia, Laos and Vietnam.

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