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Thu, 06/30/2011 - 07:18
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Australia agrees to accept Laos as WTO member

Vientiane,jun(KPL)- Australia has finally agreed to accept the Lao PDR as the member of the World Trade Organisation (WTO) after the bilateral negotiation started since 2006 has been already approved by two sides.
A signing of the results of the negotiation between Lao PDR and Australia was held on 24 June in Geneva, Switzerland. The agreement was signed by Mrs. Khemmany Pholsena, deputy minister of industry and commerce and Mr. Tim Yeend, Australia’s Ambassador and Permanent Representative to the World Trade Organization (WTO) in Geneva and witnessed by Dr. Nam Viyakhet, Minister of Industry and Commerce and H.E. Mr. Yong Chanthalangsy, Ambassador Permanent Representative of the Lao People’s Democratic Republic to the United Nations in Geneva. The Lao PDR has proposed to provide tariff and opening the service sector for Australia as well as other member of WTO. The significance of the bilateral negotiation is the support from Australia for the membership of Laos to WTO and the promotion of trade and investment between Laos and Australia. In order to be the full member of the WTO, the Lao PDR must receiving the agreement and support from the member country of WTO and today there are only 2-3 countries of WTO to negotiate with Lao side. In addition, the Lao PDR will do its utmost to improve its regulations relating to the trade issue including its work on import management, tax, sanitation and technical obstacle on trade and intellectual property in order to meet with the international trade principle as well as the agreements of WTO.
Australia is a main dialogue partner country of ASEAN. In 2010, the volume of trade between Laos and Australia reached AUD 15 million. Australia also offered a Generalized System of Preferences (GSP) to undeveloped countries including the Lao PDR.
Besides receiving the scholarship for studying in Australia, the Lao PDR has also received a number of grant aids from Australian government.