CHANGSHA, China, Sept. 7, 2023 /PRNewswire/ -- On September 5, a memorandum of understanding for standardization collaboration between Zoomlion and the Lao Ministry of Agriculture and Forestry was signed in Vientiane, Laos, both parties will advance technological and agricultural collaboration, earnestly promoting exchanges and mutual learning in areas such as agricultural machinery standards, agricultural techniques and practices, agricultural services, and financial support.

Scene of the signing ceremony

It's understood that Laos lacks standardized benchmarks for the agricultural machinery industry presently. The varied quality of agricultural machinery products entering the Laotian market, coupled with inconsistent support services, hinders the sustainable growth of Laos's agricultural machinery sector.

As a global frontrunner in high-end equipment manufacturing, Zoomlion boasts profound R&D expertise and manufacturing prowess in areas like agricultural machinery. Their product range in agricultural machinery encompasses dryland, paddy fields, cash crops, and post-harvest treatment machinery. Zoomlion is the first Chinese institution honored with the qualification of a long-term supplier of agricultural machinery by the United Nations, delivering high-end equipment and systematic solutions required for tilling, planting, managing, harvesting, and drying in over 60 countries globally.

In the realm of standard setting, Zoomlion boasts rich experience. In China alone, the company has revised and set as many as 455 national and industry standards. In 2012, they took on the mantle of the Secretariat for the International Organization for Standardization's Crane Technical Committee, and to date, have spearheaded and participated in the revision and establishment of 23 international standards.

Beyond matching needs and strengths, both entities have previously engaged extensively in agricultural collaboration, laying a robust foundation for this deepened partnership. It's known that Zoomlion's agricultural machinery entered the Laotian market in 2021. In 2022, they donated specific machines like seedling growers, transplanters, and tractors to Laos. This past February, Zoomlion inaugurated its agricultural machinery flagship store in Vientiane, progressively establishing a comprehensive service system encompassing sales, user training, parts supply, after-sales services, and financial leasing.

Zhan Chunxin, Chairman and CEO of Zoomlion, expressed his heartfelt gratitude for the profound trust placed in them by the Lao Ministry of Agriculture and Forestry. He emphasized Zoomlion will work alongside Lao experts, they aim to collaboratively craft a standardized, scientific Laotian agricultural machinery system, jointly promoting mutual technical integration, standard recognition, and industrial benefits, to creat more value for the sustained growth of both countries' agricultural machinery industries.

Source: Zoomlion Related Stocks: HongKong:000157 HongKong:1157 OTC:ZLIOY