With the signing of the Protocol of Accession on 26 October 2012, the WTO General Council has officially agreed to Laos joining the organization, paving the way for the last member of our ASEAN family to become a member of the WTO by early 2013.
On behalf of the people of Malaysia, I would like to congratulate Laos for concluding the final step in a long and challenging journey towards WTO membership.  Laos began this process in 1997.

Laos has undertaken domestic regulatory reform to conform with the WTO rules. It has also undergone a massive transformation in the way of doing business. It is understood that in the last 15 years, 90 laws and regulations were enacted across the board; tariffs  bound at an average of 18.8% for all products; and market access commitments in 10 service sectors, covering 79 sub-sectors. These achievements are indeed commendable for this land-locked country with 6.5 million people.

It is also heartening to note that these efforts were in parallel with the domestic reform that Laos has undertaken to meet its commitments under ASEAN’s robust economic agenda. Malaysia sees Laos’ accession into the WTO as further enhancing ASEAN’s efforts towards regional integration and paving the way towards reaching our goal of attaining the ASEAN Economic Community in 2015. With all ASEAN members fully entrenched in the multilateral trading system, ASEAN’s attractiveness as a trade and investment destination will be further boosted.

I look forward to Laos’ ratification of the Accession Protocol, the final step the accession process for Laos to be a full-fledged member of the WTO, and to welcoming Laos as the 158th member of the WTO in the very near future.
Ends

Ministry of International Trade and Industry Malaysia
28 October 2012