Chamber vows to support businesses seeking access to WTO markets
Chamber vows to support businesses seeking access to WTO markets
The Lao National Chamber of Industry and Commerce will accelerate efforts to build the capacity of its members so that they fully benefit from Laos' membership in the WTO.
“What we will do is to provide more training opportunities for our members,” the chamber's Secretary General Mr Khanthavong Dalavong told Vientiane Times yesterday.
His comment comes after it was learnt that the WTO accepted Laos as its 158th member on Friday.
The Lao National Assembly expects to ratify the WTO accession protocol in the near future so that Laos can secure WTO membership in early 2013.
Mr Khanthavong said the chamber had discussed cooperation with the ministries of Education and Sports, Labour and Social Welfare, and Industry and Commerce to create more opportunities for its members to improve their business management skills. They would also need more information about finance and market access to take advantage of WTO membership.
About 2,700 business units are registered as members of the chamber, of which 80 percent are small or medium d enterprises.
Mr Khanthavong said that while Lao businesses could expect to benefit from WTO membership, they would be challenged by a lack of skilled personnel and the capacity to compete with foreign firms in accessing international markets.
Most businesses, especially SMEs, were not yet aware of the benefits and challenges of Laos' membership in the WTO, so the chamber needed to inform them about these issues, he added.
“We should have started increasing awareness on the opportunities and challenges involved in WTO membership a long time ago.”
Mr Khanthavong also said the chamber would continue to provide opportunities for Lao firms to access local and international markets through trade fairs where they could exhibit and sell their products.
The chamber will also help Lao firms to attend more international exhibitions so they can seek out overseas markets.
Mr Khanthavong said he believed the businesses most likely to benefit were those in the agriculture sector. He pointed out that Laos had plenty of fertile land, which was attractive to foreign companies considering investing in agriculture to produce food for the world market.
He also said Laos could grow organic crops for high end markets, adding that the demand for healthy foods was increasing. The tourism and handicraft sectors were also areas in which Lao companies could benefit.
vientiane times
