Laos China Trade Agreement

VIENTIANE, February 26 (Xinhua) — Laos has earned more by selling rice to China in recent years through preferential trade agreements between the two countries. These bilateral trade and investment agreements were designed as building blocks for a future agreement between the regions. As a result, trade growth between Laos and China has increased sharply, particularly under ACFTA. The GSP regulation provides that trade preferences may be suspended in the event of a “serious and systematic violation of principles” set out in the Human Rights and Workers` Rights Conventions listed in Schedule VIII of the Regulation. Ensuring better access for EU exporters to the dynamic ASEAN market is an EU priority. Negotiations for a trade and investment agreement between the region and ASEAN began in 2007 and were interrupted by mutual agreement in 2009 to relax a bilateral negotiating format. Laos has also signed trade agreements with the other nine ASEAN members and, as a member of ASEAN, is conducting a series of negotiations. Laos and the United States signed a framework agreement on trade and investment in 2016. Laos has also signed various bilateral agreements with Vietnam, China, Cambodia, Burma, Thailand, North Korea, Mongolia, Malaysia, Russia, India, Belarus, Argentina, Kuwait and Turkey.

The EU is working closely with Laos on the EU-ASEAN cooperation agreement to ensure an efficient environment for trade and investment relations. The EU is cooperating with ASEAN as a whole. Cooperation will be maintained through the EU-ASEAN dialogue, which includes discussions on trade and investment issues between ministers and senior economic officials. According to the report, China`s economic growth has increased and plays an important role in the ASEAN economy. According to the report, trade preferences in Laos and China include the ASEAN-China Free Trade Agreement (ACFTA). For more information on trade and investment in Laos, see: Describes the bilateral and multilateral trade agreements to which Laos is a party, including with the United States. Includes websites and other resources that allow U.S. companies to get more information about how they can use these agreements. Although the reduction in tariffs appears to be helping Laotian producers and exporters on paper, Lao business leaders say they fear that unfair business practices by Chinese companies will give them advantages over the reports of Lao companies that Laos joined the WTO in 2013 and continue to integrate with ASEAN`s neighbours through the ASEAN economic community. The following countries have granted Laos Generalized Preference System (GSP) status: Australia, Belarus, Canada, Iceland, Japan, New Zealand, Norway, Russia, Switzerland, Turkey, Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Estonia, Germany, Greece, Finland, France, Hungary, Italy, Latvia, Lithuania, Luxembourg, Malta, netherlands, Poland, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom. The following offers offer specific LDC duty-free treatment for Lao goods: Chile, China, Taiwan, Kyrgyz Republic, Tajikistan and Thailand.

“Access to the Chinese market will still be difficult for us. Our agricultural products such as cows and buffaloes are not exportable to China,” said the owner of a trucking company in Luang Namtha province in Laos, in the north-west of the country, on the border with China, the Lao service of RFA on November 12. China has agreed to eliminate tariffs on 97% of Lao products, meaning that almost all Lao exports to China are tariff-free, but sources in Laos fear that the new trade rules will only benefit China. As the least developed country (LDC), Laos enjoys the most favourable regime available under the EU`s Generalised Preference System (GSP), namely the “Everything but Arms” (EBA) programme.