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Business regulations nearing completion
The Domestic Trade Department of the Ministry of Industry and Commerce expects to have completed regulations for the administration of wholesale and retail businesses by end of the year.
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Mr Bounthiene Keosipha | “So far we've completed the first draft of the regulations, but we need further discussions to make improvements,” department Deputy Director General Mr Bounthiene Keosipha said yesterday.
The wholesale and retail administration regulations will also include regulations governing franchise business operations.
“The regulations will not only help manage business operations, but will also help operators improve their services,” said Mr Bounthiene during the opening of a foreign-owned restaurant and café franchise last week.
“This is an area we are under-prepared for in our negotiations on joining the World Trade Organisation (WTO).”
Laos is making progress on building the necessary structures for WTO membership and trade within the Asean community.
At present most areas of government are working hard on preparations for WTO accession, including the Finance Ministry's Customs Department, which will soon be using state-of-the-art software to run a new valuation system following months of preparations.
The Ministry of Industry and Commerce is also busy building links between the public and private sectors to strengthen and promote international trade and remain competitive in a globalised market.
The socio-economic status of Laos is directly linked to its international trade activities so the government is focusing on the WTO accession process and Asean integration.
Laos' preparations for joining the WTO are progressing well and we are currently implementing the final steps, a ministry official said recently.
Trade negotiations are already underway with the Republic of Korea, USA, EU and Australia, while negotiations with Japan and China have already been completed.
Laos recently completed the sixth working party meeting and answered 700 questions tabled by other WTO members.
The questions mainly relate to regulations on trade, exports, imports, inspection, copyright, intellectual property, quality control and health.
Law and regulation improvements are posing a challenge because many Lao laws are not aligned with those in other countries.
To date, Laos has improved around 20 draft laws and 40 regulations in preparation for WTO membership and further regional integration.
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