Vientiane, 20 October 2016. Semi-annual Trade and Private Sector Working Group meeting – main policy dialogue platform between the government and development took place at Donchan Palace Hotel, Vientiane Capital.
The meeting exchange broad views on progress and challenges in two important areas of business climate in Laos. The first session of the meeting reviewed the progress of trade facilitation, including implementation of National Trade Facilitation Agenda, Non-tariff measures’ review and rationalization, effectiveness and efficiency of customs clearance at the borders and the second session was devoted to discussions on investment opportunities in the Lao services sector and key private sector’s concerns on the ongoing process of revising the Investment Promotion Law.
The meeting was chaired by H.E. Mrs. Khemmani Pholsena, Minister of Industry and Commerce and co-chaired by H.E. Mr. Leo Faber, European Union’s Ambassador and H.E. Mr. Michael Grau, German Ambassador to Lao PDR. The meeting attracted more than 100 participants from line ministries, development partners, and private sector.
Speaking at the meeting, Mrs. Khemmani Pholsena emphasized that “Trade facilitation and investment framework are key elements of our national economic diversification and economic integration strategy as well as key building blocks of AEC Blueprint 2025 and one of the key priority deliverables of Lao PDR’s ASEAN chairmanship. As a small, land-locked, and resource-dependent country, Lao PDR’s economic growth prospects are directly linked to its ability to integrate with the regional and global economy”.
During the meeting, the representatives from related departments and business community reached broad consensus on the need to take concrete actions to address specific constraints in area of cross border trade, overall investment regime to promote competition and widen access to quality services.
In her closing remarks, H.E. Minister of Industry of Commerce expressed her gratitude to all development partners for their support to trade and private sector development agenda in Laos and called all relevant agencies to take concrete actions to enhance competitiveness of Lao enterprises through reducing trading cost, policy uncertainty, and regulatory compliance cost for businesses.
The TPSWG is one of ten sector working groups under the Round Table Process and is the main forum for policy dialogue between the government of Lao PDR and development partners. Participants of the forum usually come from government, development partners, the private sector and civil society. Other 9 sector working groups include Health; Education; Governance; Macroeconomics; Infrastructure; Illicit Drug Control; UXO; Agriculture and Rural Development; and Natural Resource and Environmental Management.
National Implementation Unit-NIU
Department of Planing and Cooperation, MoIC
