(KPL) Laos has proposed the Asia Cooperation Dialogue member states to explore ways to set up a kind of barter trade arrangement whereby they could swap oil for rice and agricultural products both bilaterally and multilaterally.
Mr. Somsavat Lengsavad, assigned by President Choummaly Sayasone to attend the first Asian Cooperation Dialogue Summit in Kuwait City from 15-17 October, also said the project would be a concrete manifestation of mutual help that would respond to the actual needs of sufficient food and oil aimed at alleviating people's poverty from the effects of climate change and ensuring sustainable development.
Mr. Somsavat added that the energy cooperation is also deemed crucial and it is one of the nations with abundant river and streams, therefore the government of Laos has laid down a sustainable water management strategy on water source utilization as a major strength in generating electricity in order to meet domestic consumption and export to neighboring countries.
He also proposed the ACD, especially to the oil exporting nations to explore a strategy on sustainable energy development in view of assisting the non-oil countries.
The first Asian Cooperation Dialogue Summit was officially opened on 16 October at Al Bayan Palace by His Highness Shaikh Sabah Al Ahmed Al Jaber Al Sabah, Amir of Kuwait and was attended by over 30 Asian leaders and heads of governments.
At the inaugurating of the Summit' the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah announced an initiative of two billion dollars for financing development projects in non-Arab Asian countries.
Fund will help in promoting basic infrastructure' alleviating poverty and promoting healthcare facilities. The Amir called for intensifying efforts to promote investment and trade among member States.
Mr. Somsavat Lengsavad, assigned by President Choummaly Sayasone to attend the first Asian Cooperation Dialogue Summit in Kuwait City from 15-17 October, also said the project would be a concrete manifestation of mutual help that would respond to the actual needs of sufficient food and oil aimed at alleviating people's poverty from the effects of climate change and ensuring sustainable development.