VIENTIANE, June 5 (Xinhua) -- Lao authorities gathered to discuss and finalize a mechanism to measure and manage the high prices of goods in the country.
According to a Lao National Radio report on Wednesday, a consultation meeting regarding the issue was held between the Lao Ministry of Agriculture and Forestry and the Lao Ministry of Industry and Commerce here on Monday.
Both ministries are actively taking responsibility to jointly tackle this matter more efficiently and effectively and to achieve success in several areas, especially managing the prices of products, promoting the production of goods in a diversified manner to meet domestic needs, and reducing and limiting the imports of agricultural goods.
The two ministries agreed at the meeting to continue their close coordination in areas such as the management of prices, the creation of a mechanism for managing prices and a work plan for the future.
Laos has experienced several economic and financial difficulties, including a weak kip (Lao currency), a high inflation rate and high prices of goods, and these have had a heavy impact on development, business operations and the living conditions of the people. ■
