WTO General Council Approves Laos Membership
The World Trade Organization General Council approved Laos’ WTO membership at an Oct. 26 meeting, the WTO said. The country’s accession protocol was signed shortly afterward, which means all that’s left is for the Laotian legislature to ratify the agreement. Laos will become a WTO member 30 days after ratification, more than 15 years after it applied to join the WTO.
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“In a country like the Lao PDR, the accession process is not limited to changing some laws and regulations,” said Laos’ Deputy Prime Minister and Foreign Minister Thongloun Sisoulith. “We had to change our way of doing business. Indeed, such a mind change is a difficult and time-consuming exercise. Given the progress we have made, both institutionally, legally and in our mindset, 15 years actually seems a very short time,” he said.