LAOS PREPARES TO JOIN WTO

Laos is going to join the World Trade Organisation (WTO) in the appropriate future and had applied to be a member on June 30 this year. In preparation for joining it, the Ministry of Commerce invited representatives from various ministries, departments, institutions and companies to participate in a meeting called "National Seminar on the World Trade Organisation and the Multilateral Trading System" which was held in Vientiane between July 15-17, under assistance from the WTO. During the three-day seminar, the participants were introduced to multilateral trading system, its rules and disciplines, and several agreements involved in the WTO's activities. These agreement include Agreements on Agriculture, Application of the Sanitary and Phytosanitary Measures, Textile and Clothing, Customs and Valuation, Technical Barriers to Trade, Preshipment Inspection, Import Licensing Procedures, Rules of Origin, Subsidies and Countervailing Measures, Anti-Dumping Measures, Safeguards, Trade Related Aspects of Intellectual Property Rights, and Trade-Related Investment Measures. The participants were also introduced to the General Agreement on Trade in Service and understanding of' rules and procedures governing the settlement of disputes notification requirements. The participants have also listened to the result of the Uruguay Round of Multilateral Trade Negotiations which were of paramount interest to the participants. The global result of the Uruguay Round was the implementation of the agreements which would lead to more secure and open markets for exports of the developing countries. These would represent additional opportunities to diversify sources of foreign exchange meaning. The Uruguay Round Agreements also created a World Trade Organisation which provides a permanent forum for negotiating trade relations on a multilateral basis among its members. The specialization encouraged by more open markets will allow developing countries to concentrate their resources in areas where their productivity advantages are largest. It is believed that the intention of the Lao Government to join the WTO will be effective in the appropriate time.