Laos ready to join WTO in November

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.



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[caption id="attachment_3988" align="alignleft" width="300"] A WTO membership would boost Laos' exports significantly[/caption] 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...

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.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Personal Info

Donation Total: $10.00

 

 

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