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Australia signs up to support Lao WTO membership
Australia has agreed to support Laos' bid for membership in the World Trade Organisation (WTO), which will help the landlocked nation to access international markets.
Permanent representative of Australia Mr Tim Yeend and Deputy Minister of Industry and Commerce Ms Khemmani Pholsena on June 24 signed an agreement to support Laos' bid for WTO membership after the close of bilateral talks that began in 2006.
Minister of Industry and Commerce Dr Nam Vinhaket and Permanent Representative of Laos to the United Nations in Geneva, Switzerland, Mr Yong Chanthalangsy attended the signing ceremony.
The agreement also seeks to strengthen bilateral trade and investment between the two countries, according to a press release from the Ministry of Foreign Affairs' Press Department.
The statement said a number of countries have agreed to support Laos' WTO membership bid. Laos requires support from only a few countries before it can join the global body. However, Laos must amend certain laws and import and export procedures to meet international standards to qualify for membership.
Australia is an Asean dialogue partner. In 2010, bilateral trade between Australia and Laos was worth US$15 million. Australia also off ers GSP on goods imported from least developed countries including Laos. Australia is also a major provider of scholarships for Lao students.
vientiane times
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