Laos' accession to the WTO draws closer
Laos' accession to the WTO draws closer
Many members of the World Trade Organisation (WTO) gathered for the ninth session of the working party meeting on the accession of the Lao PDR, which took place at the WTO Headquarters in Geneva, Switzerland last week.
The meeting was held to support Laos's efforts to become a member of the organisation by the end of this year, according to the press release from the Ministry of Industry and Commerce.
Representing the Lao PDR at the meeting, Minister of Industry and Commerce Dr Nam Vinhaket reported that in 2012 alone, Laos was able to issue more than 10 ministerial decisions, five prime ministerial decrees and one presidential edict.
In parallel, Lao PDR also managed to conclude bilateral trade agreements with all nine negotiating partners, including the last country, Ukraine, in May 2012.
During the meeting, many members expressed their support for Lao PDR becoming a member within 2012 and praised its achievements, especially on the improvement of legislation to create transparency in its international trade policy. Members were also satisfied with the clarifications made by the Lao delegation on the outstanding issues raised at the meeting.
Alongside the working party meeting, 14 Lao delegates from relevant sectors lead by Dr Nam also met with key negotiating partners including Australia, the EU and the USA, to address some remaining legislation issues especially the commitment languages to be used in the Protocol of Accession for membership in the WTO of the Lao PDR.
They also called for Laos to be granted transition periods for implementing any relevant agreements, given its status as a least developed country. According to the press release, all issues are agreed and expected to be consolidated into the working party's report for approval at the next working party meeting which will take place in September 2012.
The working party meeting on WTO accession is a multilateral meeting where WTO members raise questions for the applying country about its trade-related regime, regulations and legislative system, in order to create clarity and transparency as well as to ensure compliance with WTO agreements. At present, there are 155 WTO members and 29 countries with observer status, including Laos.
vientiane times
