Lao PDR informed the WTO on 3rd January 2013 that it has ratified its membership agreement. Under WTO procedures, that means Lao PDR will officially become the WTO’s 158th member on 2nd February 2013.

The membership deal was approved by the General Council on 26 October 2012. Lao PDR’ chief negotiator, Industry and Commerce Minister Nam Viyaketh, and WTO Director-General Pascal Lamy signed the Protocol of Accession immediately afterwards, ending 15 years of negotiations.

Entry into the WTO brings with it the promise of increased trade volume and new trade partners for Lao PDR, as well as the prospect of fresh investment pouring into the country.

The move is part of the country's stated ambition to graduate from least developed country status by 2020.

sources:

http://www.wto.org/english/news_e/news13_e/acc_lao_08jan13_e.htm

http://www.google.com/hostednews/afp/article/ALeqM5jG7oOAsPpsoZPzv3ubLnSJyR5YDQ?docId=CNG.2169d918ba230a318984860587a8323e.01

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