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Laos makes progress in WTO accession
Laos is making good progress in its preparations for joining the World Trade Organisation (WTO), according to the deputy permanent representative of China to WTO and the chairman of the working party on Lao WTO accession, Dr Zhang Xiangchen.
Dr Zhang met Deputy Prime Minister and Minister of Foreign Affairs Dr Thongloun Sisoulith last Friday at the Ministry of Foreign Affairs in Vientiane.
During the visit, Dr Zhang praised Laos for the good progress made in its bid for WTO membership.
“The progress is shown by improvements to legislation in the country and by the bilateral trade negotiations Laos has had with some member countries.”
Dr Zhang asked the Lao government to keep going with the negotiations and said that China will continue to support Laos in its endeavour to join the WTO.
According to a press release from, the ministry, Dr Zhang is also encouraging other member countries to support Laos' bid for membership.
Dr Thongloun thanked Dr Zhang for his support, adding that Laos will do its best to attain WTO accession.
Laos has held six WTO working party meetings and answered 800 questions regarding its membership bid. A 7th session of the working party will be held in the middle of this year.
According to information fro m the Ministry of Industry and Commerce, Laos has signed bilateral trade agreements with China, Japan, South Korea and Canada and is in also discussions with the EU.
Laos applied for WTO membership in 1997 and the government considers it crucial to the nation's integration into the international economy. The government has paid particular attention to the issue because of the contribution to reducing poverty that WTO membership is expected to make.
It is believed that membership of the WTO will open up the country's economy to wider markets and help accelerate the economic reform process.
Most Asean countries are already members of the WTO and Laos trades mainly with these countries.
According to the statistics from the ministry, the WTO has 153 country members covering 90 percent of world trade.
vientiane times
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