Laos will be officially admitted to the World Trade Organisation on February 2, the global mediator said on Thursday, after the southeast Asian country ratified an agreement to become the WTO's 158th member.

Laos worked on membership for 15 years before the WTO general council accepted its bid on October 26.

Entry into the WTO brings with it the promise of increased trade volume and new trade partners for Laos, 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.

January 10, 2012

Source: AFP

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