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International Trade Law
Laos’ primary exports are garments, wood products, coffee, electricity, and tin. Its exports were valued at $379 million in 2005, while its imports were valued at $541 million. Clearly, the country’s trade deficit needs remedying, particularly in a region where exports represent a critical component of economic development.
As one component of its National Growth and Poverty Eradication Strategy, Laos is working toward a liberalized trade environment. The country remains significantly behind its neighbors, however. Existing trade agreements, including the ASEAN Free Trade Agreement and the new bi-lateral trade agreement Laos holds with the United States, require a bolstering of efforts to meet the country’s commitments, including implementation of reforms in the areas of customs, intellectual property, and trade facilitation. In addition, the ambiguity of Laos’ legal and regulatory structure will need to be remedied before a legislative plan can be established and thereafter pave the way toward WTO accession.
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