Laos ready to join WTO in November

Reading Time: 1 minute
A WTO membership would boost Laos’ exports significantly

Laos is nearing the approval of its membership in the World Trade Organisation (WTO). The accession negotiations are in the final stages, the country’s government formally announced at a July 12 Working Party meeting.

According to local media reports, Laos can expect to become a member of the WTO before this year’s Asia-Europe (ASEM) Summit in Laos’ capital Vientiane in November.

Laos has finished its series of bilateral negotiations with WTO members, clearing one of the last major hurdles of the accession process, the International Center for Trade and Sustainable Development, a Switzerland-based NGO, reported.

The country began negotiations with the WTO in 1997.

“We’ve had very constructive bilateral discussions in these last few days, in which we basically agreed on all outstanding commitment language,” Laos’ Industry and Commerce Minister Nam Viyaketh said.

“This has convinced us that we will be able to finalise all substantial issues within this meeting, in order to have our last Working Party Meeting right after the summer break to seek the approval and adoption of the accession package by members, before endorsing it to the General Council for adoption later this year.”

If it accedes, Laos will become the sixth least developed country to finish negotiations to join the trade body since 1995.

Laos is expected to benefit economically from lowered trade tariffs around the world once joining the WTO, a vital development for one of the poorest nations in Southeast Asia.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Reading Time: 1 minute

A WTO membership would boost Laos’ exports significantly

Laos is nearing the approval of its membership in the World Trade Organisation (WTO). The accession negotiations are in the final stages, the country’s government formally announced at a July 12 Working Party meeting.

Reading Time: 1 minute

A WTO membership would boost Laos’ exports significantly

Laos is nearing the approval of its membership in the World Trade Organisation (WTO). The accession negotiations are in the final stages, the country’s government formally announced at a July 12 Working Party meeting.

According to local media reports, Laos can expect to become a member of the WTO before this year’s Asia-Europe (ASEM) Summit in Laos’ capital Vientiane in November.

Laos has finished its series of bilateral negotiations with WTO members, clearing one of the last major hurdles of the accession process, the International Center for Trade and Sustainable Development, a Switzerland-based NGO, reported.

The country began negotiations with the WTO in 1997.

“We’ve had very constructive bilateral discussions in these last few days, in which we basically agreed on all outstanding commitment language,” Laos’ Industry and Commerce Minister Nam Viyaketh said.

“This has convinced us that we will be able to finalise all substantial issues within this meeting, in order to have our last Working Party Meeting right after the summer break to seek the approval and adoption of the accession package by members, before endorsing it to the General Council for adoption later this year.”

If it accedes, Laos will become the sixth least developed country to finish negotiations to join the trade body since 1995.

Laos is expected to benefit economically from lowered trade tariffs around the world once joining the WTO, a vital development for one of the poorest nations in Southeast Asia.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid