India wants Loas to implement free trade pact soon

Rakesh Mohan Chaturvedi
Vientiane (Laos), Sep 10 (PTI) India on Friday hoped that
Laos would soon implement the India-ASEAN free trade pact,
giving a boost to the bilateral commerce of USD 36.98 million.
It also offered to be Laos' partner in its socio-economic
strategy for economic progress which will help it move out
of the Least Developed Country (LDC) status.
"On trade, we hope that Laos will issue the necessary
notification at an early date to bring the India-ASEAN Free
Trade Agreement into force," President Pratibha Patil, who is
here on a visit, said in her banquet speech at a dinner
hosted by Laos President Choummaly Sayasone in her honour.
While, India-ASEAN free trade agreement came into force
from January this year, only five of its 10-member countries
have implemented it.
When notified, Laos will join Singapore, Thailand,
Malaysia, Vietnam and Myanmar.
Patil hoped Laos will participate in the India-ASEAN
trade Fair scheduled in March 2011 in New Delhi.
She expressed her admiration for the efforts being
made by Laos to become a developed country.
"We admire your dynamic leadership in shaping the
growth of your country, and in pursuing a Socio-Economic
Development Strategy that seeks to move Laos out of the LDC
status by 2020. India is willing to be your development
partner," she said.
Sayasone thanked India for its economic cooperation
and extending a credit line of USD 72.55 million to
hydro-projects in Laos.
He also hailed India's efforts in the field of
international diplomacy, especially its role in Non-Aligned
Movement, G-77 and Mekong-Ganga Cooperation. PTI AS
RBT


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