logo
Laos and Australia deepen investment and development ties

Laos and Australia deepen investment and development ties

The Star2 days ago
VIENTIANE: Laos and Australia are stepping up efforts and reaffirming their commitment to boost trade, investment, and sustainable development, with several Australian companies already having a strong presence in Laos.
Deputy Prime Minister and President of the Board of Investment, Saleumxay Kommasith, met Australian Ambassador to Laos, Megan Jones, on Tuesday (July 22) to discuss the growing commercial partnership, according to the Australian Embassy.
The meeting focused on opportunities under 'Invested: Australia's Southeast Asia Economic Strategy to 2040', which outlines key sectors for investment in Laos.
'Under Invested we have identified three key sectors as areas with the most opportunities for Australian investment: agriculture, green energy, and resources,' Ambassador Jones said.
Trade and investment between the two nations have seen solid progress in recent years, driven by long-term cooperation and new initiatives.
In June, the two governments launched the Laos-Australia Investment Facilitation and Transformation for Economic Resilience (LIFT 4 Laos) programme.
It is designed to help Laos attract high-quality foreign investment, boost sustainable growth, and improve resilience to economic shocks.
Australian businesses are already making a visible impact on the ground. In March, Australia's largest horticulture company, Costa Group, began developing a blueberry farm in Champasak province, which is expected to create more than 2,000 jobs.
Earlier this year, Sydney-based asset manager New Forests acquired a majority stake in Burapha Agro-Forestry. The company's focus on reforestation and carbon credit generation supports both environmental goals and local development.
In the logistics sector, Linfox signed a contract in 2024 with Carlsberg/Lao Brewery Company to transport products in Huaphan, Phongsaly and Vientiane provinces. This followed an earlier deal in July to provide forklifts to the company's warehouses.
Australia has also maintained a long-standing presence in the mining sector. Australian Laboratory Services, known for its geochemical testing expertise, is celebrating 30 years of operations in Laos this year.
Agriculture remains a strong pillar of cooperation, with the Australian Centre for International Agricultural Research supporting Laos for more than 35 years through research and capacity-building projects.
The Laos-Australia Sustainable Energy Partnership is also moving forward, with Phase 2 of the programme scheduled to begin in 2026.
Last year, Laos' Prime Minister Dr Sonexay Siphandone and the Prime Minister of Australia, Anthony Albanese, signed an agreement to elevate bilateral ties to a Comprehensive Partnership.
This agreement reflects growing cooperation in foreign policy, education, infrastructure, health, security, economics, and development.
Australia and Laos have shared diplomatic ties since the 1950s, building a relationship that both sides continue to value and strengthen.
During the meeting, Ambassador Jones congratulated Saleumxay on his new role, saying his leadership would play a key part in driving economic cooperation.
Looking ahead, AustCham Lao, the Australian Chamber of Commerce in Laos, will mark its 20th anniversary in 2025. It is the country's oldest foreign chamber and represents a broad network of businesses operating in Laos or trading with Australia. - Vientiane Times/ANN
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump says US will sell 'so much' beef to Australia
Trump says US will sell 'so much' beef to Australia

New Straits Times

time2 hours ago

  • New Straits Times

Trump says US will sell 'so much' beef to Australia

WASHINGTON/CANBERRA: The United States will sell "so much" beef to Australia, US President Donald Trump said on Thursday after Canberra relaxed import restrictions, adding that other countries that refused US beef products were on notice. Australia on Thursday said it would loosen biosecurity rules for US beef, something analysts predicted would not significantly increase US shipments because Australia is a major beef producer and exporter whose prices are much lower. "We are going to sell so much to Australia because this is undeniable and irrefutable Proof that US Beef is the Safest and Best in the entire World," Trump said in a post on Truth Social. "The other Countries that refuse our magnificent Beef are ON NOTICE," the post continued. Trump has attempted to renegotiate trade deals with numerous countries he says have taken advantage of the United States, a characterisation many economists dispute. "For decades, Australia imposed unjustified barriers on US beef," US Trade Representative Jamieson Greer said in a statement, calling Australia's decision a "major milestone in lowering trade barriers and securing market access for US farmers and ranchers." Australia is not a significant importer of beef but the United States is, and a production slump is forcing it to step up purchases. Last year, Australia shipped almost 400,000 metric tons of beef worth US$2.9 billion to the United States, with just 269 tons of US product moving the other way. Australian officials say the relaxation of restrictions was not part of any trade negotiations but the result of a years-long assessment of US biosecurity practices. Canberra has restricted US beef imports since 2003 due to concerns about bovine spongiform encephalopathy (BSE), or mad cow disease. Since 2019, it has allowed in meat from animals born, raised and slaughtered in the United States but few suppliers were able to prove that their cattle had not been in Canada and Mexico. On Wednesday, Australia's agriculture ministry said US cattle traceability and control systems had improved enough that Australia could accept beef from cattle born in Canada or Mexico and slaughtered in the United States. The decision has caused some concern in Australia, where biosecurity is seen as essential to prevent diseases and pests from ravaging the farm sector. "We need to know if (the government) is sacrificing our high biosecurity standards just so Prime Minister Anthony Albanese can obtain a meeting with US President Donald Trump," shadow agriculture minister David Littleproud said in a statement. Australia, which imports more from the United States than it exports, faces a 10 per cent across-the-board US tariff, as well as 50 per cent tariffs on steel and aluminium. Trump has also threatened to impose a 200 per cent tariff on pharmaceuticals. Asked whether the change would help achieve a trade deal, Australian Trade Minister Don Farrell said: "I'm not too sure." "We haven't done this in order to entice the Americans into a trade agreement," he said. "We think that they should do that anyway."

Unlocking trading flexibility: the power of Octa Broker's swap-free accounts
Unlocking trading flexibility: the power of Octa Broker's swap-free accounts

The Sun

time4 hours ago

  • The Sun

Unlocking trading flexibility: the power of Octa Broker's swap-free accounts

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 25 July 2025 - In a dynamic and somewhat dangerous world of currency trading, it is critical to understand every element that impacts your potential profitability. While market spreads and brokers' commissions form an integral component of trading costs, Forex swap points also play a major role in everyday operations, and yet they are often overlooked and misunderstood by traders. Although sometimes, swap points can be positive and generate a stable income for a trader, most of the time, they represent a recurring cost and can be a serious drag on profitability, especially for traders who prefer to hold positions overnight. This is why Octa, a globally regulated and trusted broker since 2011, provides a significant convenience by offering swap-free accounts for traders. Swap points explained When opening a Forex trade, a trader essentially borrows one currency to buy another. However, each currency has an associated interest rate, set by the respective central bank. The difference between these two interest rates in a Forex pair is what makes a 'swap point'. In essence, a Forex swap point (also known as a 'rollover fee', 'overnight interest' or 'holding cost') is the interest rate differential between the two currencies. It is applied to positions held open overnight and is credited or debited automatically while being reflected in the final profitability of a trade. Let's consider an example with a transaction involving two currencies with significantly different interest rates: the Australian dollar (AUD) and the Japanese yen (JPY). The Reserve Bank of Australia (RBA) has set its policy rate at 3.85%, and the Bank of Japan (BoJ) at 0.5%. Suppose you want to short (sell) AUDJPY at a 97.00 exchange rate and you initiate a full 1.0 lot position. A short one lot position means you sell 100,000 Australian dollars (AUD) against the Japanese yen (JPY). In order to sell something that you do not own, you need to borrow it first. So, you borrow 100,000 AUD and pay interest (cost). Then, you place the Japanese yen (that you bought) in a bank deposit for one day (overnight) and receive interest (income). If the interest rate on the Australian dollar loan is 3.85%, then you pay 10.55 Australian dollars per day (100,000 x 3.85% / 365). If the interest rate on the yen deposit is 0.5%, you will receive 132.9 yen per day (100,000 x 97 x 0.5% / 365), or just 1.37 Australian dollars at an exchange rate of 97.00. Thus, at the end of the day, the trader will incur a swap loss of 9.18 Australian dollars. And this will be a recurring cost every 24 hours. Not a very comfortable situation to be in, is it? Furthermore, even if a trader decides to trade currencies with relatively similar rates of interest and buy a higher-yielding currency against a lower-yielding currency, the swap rate may still be negative as brokers often add their markup or discount to the interbank swap rates. Why the absence of swap points at Octa Broker is so convenient For many Forex traders, particularly those employing mid-term to long-term strategies, the accumulation of swap points can significantly eat into potential profits or exacerbate losses. This is where Octa Broker's '0% swaps' policy becomes a game-changer. Indeed, Octa Broker has been trusted by millions of traders around the world precisely for its transparent trading conditions, no hidden tricks, and honest and convenient trading without swap points. Here are the benefits of having a 0% swap rate: Reduced trading costs The most obvious benefit is the elimination of recurring overnight fees. For traders who hold positions for days, weeks, or even months, these small daily charges can quickly add up to a substantial amount, impacting overall profitability. By removing swaps, Octa Broker helps traders keep more of their earnings. Flexibility in trading strategies Traders aiming to capitalise on longer-term market trends no longer have to worry about the mounting cost of holding positions overnight. 0% swap rate frees them and allows them to focus solely on market analysis and price action without the added pressure of daily swap calculations. Simpler profit/loss calculation Without swap points, calculating your net profit or loss on a trade becomes much more straightforward. You only need to consider the entry price, exit price, and any commissions or spreads, removing a variable that can complicate financial planning and risk management. No unpleasant surprises Swap rates can fluctuate based on central bank decisions and even market liquidity. Octa Broker's swap-free offering removes this element of uncertainty, providing a more predictable trading environment. Accessibility for all traders For new traders, understanding and factoring in swap points can be an additional layer of complexity. Swap-free accounts simplify the learning curve, allowing them to focus on core trading principles. Furthermore, for traders whose religious beliefs prohibit earning or paying interest, swap-free accounts offer an ethical and compliant way to participate in the Forex market. Octa Broker's commitment to offering 0% swaps on its trading instruments aligns with a trader-centric approach. This transparency is a cornerstone of how Octa builds trust with clients, empowering them with greater control over their trading costs and fostering more flexible strategy implementation. Ultimately, this contributes to a more transparent and convenient trading experience where traders can trust their broker to prioritise their success. For anyone considering holding forex positions for more than a day, the absence of swap points is a compelling advantage worth serious consideration. Along with other conditions benefiting traders, the zero-swap policy is one of the crucial tools that reliable brokers offer their clients to help them successfully navigate the markets. ___ Disclaimer: This press release does not contain or constitute investment advice or recommendations and does not consider your investment objectives, financial situation, or needs. Any actions taken based on this content are at your sole discretion and risk—Octa does not accept any liability for any resulting losses or consequences.

Trump: Australia will get ‘so much' of our ‘magnificent beef', others that refuse are ‘on notice'
Trump: Australia will get ‘so much' of our ‘magnificent beef', others that refuse are ‘on notice'

Malay Mail

time4 hours ago

  • Malay Mail

Trump: Australia will get ‘so much' of our ‘magnificent beef', others that refuse are ‘on notice'

WASHINGTON, July 25 — The United States will sell 'so much' beef to Australia, US President Donald Trump said on Thursday after Canberra relaxed import restrictions, adding that other countries that refused US beef products were on notice. Australia on Thursday said it would loosen biosecurity rules for US beef, something analysts predicted would not significantly increase US shipments because Australia is a major beef producer and exporter whose prices are much lower. 'We are going to sell so much to Australia because this is undeniable and irrefutable Proof that US Beef is the Safest and Best in the entire World,' Trump said in a post on Truth Social. 'The other Countries that refuse our magnificent Beef are ON NOTICE,' the post continued. Trump has attempted to renegotiate trade deals with numerous countries he says have taken advantage of the United States — a characterisation many economists dispute. 'For decades, Australia imposed unjustified barriers on US beef,' US Trade Representative Jamieson Greer said in a statement, calling Australia's decision a 'major milestone in lowering trade barriers and securing market access for US farmers and ranchers.' Australia is not a significant importer of beef but the United States is and a production slump is forcing it to step up purchases. Last year, Australia shipped almost 400,000 metric tonnes of beef worth US$2.9 billion (RM12.2 billion) to the United States, with just 269 tonnes of US product moving the other way. Australian officials say the relaxation of restrictions was not part of any trade negotiations but the result of a years-long assessment of US biosecurity practices. Canberra has restricted US beef imports since 2003 due to concerns about bovine spongiform encephalopathy (BSE), or mad cow disease. Since 2019, it has allowed in meat from animals born, raised and slaughtered in the US but few suppliers were able to prove that their cattle had not been in Canada and Mexico. On Wednesday, Australia's agriculture ministry said US cattle traceability and control systems had improved enough that Australia could accept beef from cattle born in Canada or Mexico and slaughtered in the United States. The decision has caused some concern in Australia, where biosecurity is seen as essential to prevent diseases and pests from ravaging the farm sector. 'We need to know if (the government) is sacrificing our high biosecurity standards just so Prime Minister Anthony Albanese can obtain a meeting with US President Donald Trump,' shadow agriculture minister David Littleproud said in a statement. Australia, which imports more from the US than it exports, faces a 10 per cent across-the-board US tariff, as well 50 per cent tariffs on steel and aluminium. Trump has also threatened to impose a 200 per cent tariff on pharmaceuticals. Asked whether the change would help achieve a trade deal, Australian Trade Minister Don Farrell said: 'I'm not too sure.' 'We haven't done this in order to entice the Americans into a trade agreement,' he said. 'We think that they should do that anyway.' — Reuters

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store