Officials meet to better understand trade facilitation
Officials meet to better understand trade facilitation
The Department of Import and Export has brought together trade officials and the private sector to better understand trade agreements under the World Trade Organisation (WTO) at a gathering that took place in Vientiane yesterday.
The meeting focused on creating a better understanding of trade facilitation in the WTO agreements.
The agreements are set to provide a wide range of benefits to trade activities, including timely transport of goods, reduction of transport fees, as wel l as regionally and internationally recognised regulations.
The meeting also evaluated the demand and priorities on the provision of trade facilitation in Laos during October last year.
According to senior officials from the Ministry of Industry and Commerce, the Department of Import and Export will further propose to the WTO secretariat to disseminate directives, regulations and to work with the relevant sectors.
This is to ensure various drafted agreements of the trade facilitation are accurate and can be sent to the WTO secretariat for further consideration.
Laos became the WTO's 158th member as of February last year, meanwhile the country is filled with high ambition in increasing trade volume and new trade partners. It is also looking forward to welcoming foreign investment projects into the country over the years to come.
In the past few years, the line ministries and relevant sectors working in dissolving barriers in trade, have progressively improved essential factors.
The improvement of the laws on customs, code for customs and other important infrastructure were also prioritised to meet the WTO requirements.
vientiane times
