The World Trade Organization approved Friday the membership of Laos, ending a 15-year effort by the small Southeast Asian communist nation to join the global trade body. After approval by the General Council, which represents the body's 157 members, WTO chief Pascal Lamy signed an accession protocol with Laos’ chief negotiator, Industry and Commerce Minister Nam Viyaketh. Following approval by the Laotian parliament, the country should officially join in early 2013. "Laos has come a long way since it embarked on the road to membership in 1997,” said Lamy. Laos, one of Southeast Asia's poorest nations and the only one in the region yet to join the WTO, has enjoyed robust economic growth of more than seven percent a year over the past decade. Entry into the WTO club brings with it the promise of increased trade volume and new trade partners for Laos, as well as the prospect of fresh investment pouring into the country. Laos’ Deputy Prime Minister and Foreign Minister Thongloun Sisoulith said that preparations for WTO membership involved more than just changing laws and regulations. "We had to change our way of doing business," Sisoulith was quoted as saying in a WTO statement.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor