Laos accelerates plans to integrate with international economies
Laos accelerates plans to integrate with international economies
The government is stressing that every ministry needs to urgently improve measures, regulations and policies to integrate with international economies for national development.
Since Laos became a me mber of the World Trade Organisation in 2013 and will become part of the Asean Economic Community (AEC) this year, different regulations have been improved in line with international standards while improvements to ma ny others are still in progress.
In the lead up to the AEC the bloc issued a series of questionnaires to each member country of Asean covering the period from 2008 to 2015 and which focused on 506 key subjects.
The average level of achievement was about 90.5 percent while Laos had managed to achieve 92 percent, Minister of Industry and Commerce Ms Khemmani Pholsena reported at the 12th National Coordination Committee for Economic Integration (NSC) meeting in Vientiane on Tuesday.
The meeting was chaired by Deputy Prime Minister and Minister of Foreign Affairs, Mr Thongloun Sisoulith, who is also President of the NSC, and was attended by representatives from all government organisations and committee secretariats.
“With the good collaboration of previous years, we have an improved Prime Minister's decree on the implementation and operation of the NSC to guarantee more effective international economic integration in the new era,” Ms Khemmani said.
“Through this cooperation of committees we have improved the mechanism of coordination making it a better facility, stronger and faster,” she said.
Laos has suspended the reference price collection regulation for fuel but the reference price for the import of vehicles is still operating despite the sector trying to find ways to benefit more.
The relevant sectors of government are also urgently trying to improve the regulations on and mechanisms for communications, transportation and food safety to meet international standards as well as WTO obligations and Asean agreements.
This will help Laos to attract investment from foreign countries, bring technology to local industries for domestic and export sales and expand overseas markets.
In addition, it will contribute to national socio-economic development and help Laos to graduate from least developed country status by 2020.
Mr Thongloun stressed that every sector must take full responsibility in preparing for AEC integration by adjusting their regulations and measures, which are not yet properly linked.
