Laos - Latest News/Current Events, Economic Overview & Trade Relations
Quick Facts about Laos
| Official Name | Lao People's Democratic Republic |
| Capital | Vientiane |
| Location | Southeastern Asia, northeast of Thailand, west of Vietnam |
| Area | total: 236,800 sq km land: 230,800 sq km water: 6,000 sq km |
| Climate | tropical monsoon; rainy season (May to November); dry season (December to April) |
| Terrain | mostly rugged mountains; some plains and plateaus |
Editor PicksBrowse Asia News Archive
Laos Government Draws Up Master Plan To Develop Mass Media
The Lao Government has developed its master plan to develop the country's mass media.
The Lao Government has developed its master plan to develop the country's mass media. The government had been setting aside some money from its budget to improve and expand the mass media of the country. It also recently passed a new media law that should boost support for the development of this sector. The focus is on improving the quality of information services, getting linked to overseas news networks, and expanding media services to the rural areas. Moreover, one of the important goals is to switch from analog to a digital system by 2015.read source article
ADB Grants $20 Million For Laos Sustainable Natural Resource Management Project
The Asian Development Bank (ADB) will provide US$20 million in grant aid to the Sustainable Natural Resource Management and Productivity Enhancement Project.
The Asian Development Bank (ADB) will provide US$20 million in grant aid to the Sustainable Natural Resource Management and Productivity Enhancement Project. The project aims to help the government protect the country's rich and diverse natural resources from commercial development in the five southern provinces of Savannakhet, Sekong, Saravan, Champassak and Attapeu. The project is co-financed on a grant basis by the International Fund for Agricultural Development (IFAD) of $15 million. Moreover, the Government of Japan's Special Fund, which is managed by the ADB, will also provide $700,000 to go into training resources to support the project.Laos: Trade With Vietnam To Reach $1 Billion by 2010
The Lao government is expecting the trade between Laos and Vietnam to increase from $423 million in 2008 to $1 billion by 2010 after the two countries signed a new agreement on cross-border procedures in Vientiane last week.
The Lao government is expecting the trade between Laos and Vietnam to increase from $423 million in 2008 to $1 billion by 2010 after the two countries signed a new agreement on cross-border procedures in Vientiane last week. The agreement is part of their effort to facilitate trade between the two countries by reducing the existing documentary inspecting processes. Now, only a single goods declaration form is needed by the owners to be shown to inspectors to verify that the shipment is destined to third countries and the 10 ASEAN nations and not meant for Laos and Vietnam, removing the possibility that inspects will impose taxes on those goods.read source article
Laos: World Tourism Authority Gives $24,000 To Xekong Province
The World Tourism Authority gave $24,000 for the construction of a tourist village in Kandone village, Thataeng district, Xekong province.
The World Tourism Authority gave $24,000 for the construction of a tourist village in Kandone village, Thataeng district, Xekong province. The money will be used to construct a four kilometer road, to install electricity to 99 households, to build a water supply system, to build a traditional shop and guesthouse, to fund a guide training course for villagers, and to pay a weaver to teach the villages how to weave. Kandone was chosen for the construction of a tourist village because it is known for its weaving methods, handicrafts, and the culture of the Katou ethnic group.Laos: MOF To Tap Into Singapore Expertise In Public Finance Modernisation
The Singapore Cooperation Enterprise (SCE) and the World Bank recently signed a Memorandum of Understanding to provide technical assistance to the Lao Ministry of Finance (MOF).
The Singapore Cooperation Enterprise (SCE) and the World Bank recently signed a Memorandum of Understanding to provide technical assistance to the Lao Ministry of Finance (MOF). The MOU formalizes the partner collaboration on a Public Finance Modernisation and Governance Programme (PFMGP), with a grant amount of $752,000. The programme is part of an overall effort by the Lao government to strengthen its public financial management and aid effectiveness in the country.read source article
Laos: Minimum Wage Rises By 20%
The government has increased the minimum wage for workers by 20 percent, from 290,000 kip to 348,000 kip.
The government has increased the minimum wage for workers by 20 percent, from 290,000 kip to 348,000 kip. The wage increase, while lower than the 2008 proposal of the Lao Federation of Trade Unions to the National Assembly of 700,000 kip, is expected to mainly benefit workers in the garment industry, who mostly get a minimum wage. To help employers mitigate the rise in costs from the minimum wage increase, the government also reduced the rate of tax on the profit from 35 percent to 20 percent.Browse Asia News Archive
Trade Agreements
Agreement between the United States of America and the Lao Peoples Democratic Republic on Trade Relations
United States of Americahttp://www.bilaterals.org/IMG/pdf/US-LA_FTA.pdf
ASEAN - China Free Trade Area
The ASEAN - China Free Trade Agreement will apply in an area involving 1.7 billion consumers, making it the world's largest trading area. The agreement currently establishes a zero-tariff market. The agreement now contains trade in goods, services and dispute settlement. Investment is still under negotiation.
ASEAN - Korea Free Trade Area
Under the ASEAN- Korea Free Trade Agreement, Korean businesses will gain access to the ASEAN market, which contains nearly 500 million people. The agreement contains trade in goods and tariffs will be either eliminated or reduced on Korean products. http://www.aseansec.org/18063.htm
ASEAN Free Trade Area
Initiated in 1992, ASEAN Free Trade Area (AFTA) main mechanism used to reduce tariffs in ASEAN. It originally contained six members (Brunei, Indonesia, Malaysia, Philippines, Singapore and Thailand) the other four members (Vietnam -1995, Laos -1997, Myanmar-1997 and Cambodia-1999) joined after the original agreement was signed. In order to join ASEAN, they had to agree to AFTA. The overall objective of AFTA is to encourage more foreign investment to ASEAN and establish ASEAN as a world competitor by eliminating both tariff and non-tariff barriers within ASEAN. Over the next 15 years, ASEAN agreed to reduce tariffs 0-5%. http://www.aseansec.org/19346.htm
Trade and Investment Framework Arrangement between the United States of America and the Association of Southeast Asian Nations
United States of AmericaThe Enhanced partnership between ASEAN and the United States will increase cooperation and understanding in the areas of politics, economics and safety. EAI, Enterprise ASEAN Initiative, will strengthen economic cooperation and will allow and increase of trade and investment between both parties. Both sides have also vowed to work together on various projects in the development arena including, fighting infectious disease and disaster relief. http://www.ustr.gov/assets/Trade_Agreements/TIFA/asset_upload_file932_9760.pdf
Trade Organizations
ASEAN Plus 3
Forum as a coordinator of cooperation between ASEAN and China, Japan and South Korea.
Asia Cooperation Dialogue (ACD)
The Asia Cooperation Dialogue (ACD) is an International Organization to promote Asian cooperation at a continental level, helping to integrate the previously separate regional organizations of political or economical cooperation such as ASEAN, SAARC
Association of Southeast Asian Nations (ASEAN)
Association of Southeast Asian Nations, commonly referred to as ASEAN, is a geo-political and economic organization of 10 countries located in Southeast Asia, which was formed on August 8, 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand. Its aims include the acceleration of economic growth, social progress, cultural development among its members, and the promotion of regional peace.
Ayeywady-Chao Phraya-Mekong Economic Strategy
The Ayeywady-Chao Phraya-Mekong Economic Strategy (ACMECS)was formed as a political, economic and cultural organization. The ACMECS places an emphasis on using self help and partnership to achieve sustainable development, including poverrty reduction, in line with the UN Millennium Development Goals.
East Asia Summit (EAS)
The East Asia Summit (EAS) is a Pan-Asia forum of 16 countries in East Asia, with ASEAN in a leadership position.