ID :
115013
Mon, 04/05/2010 - 10:04
Auther :
Shortlink :
https://oananews.org//node/115013
The shortlink copeid
ASEAN-Australia-New Zealand Free Trade Agreement creates new opportunities for business in Laos
VIENTIANE,4 APRIL (KPL) - The Australian Embassy, together with the Ministry of Industry and Commerce and with support from the Australia-New Zealand Business Association in Laos (ANZBA) held a business workshop on the new ASEAN-Australia-New Zealand Free Trade Agreement (the AANZFTA) in Vientiane on 31 March.
Opened by Mr Siaosavath Savengsuksa, Vice-Minister of Industry and Commerce, and Australian Ambassador, Dr Michele Forster, the workshop introduced the AANZFTA to both the local Lao and Australian business communities. Entitled “Understanding the AANZFTA: Outcomes and Opportunities for Business”, the workshop promoted the opportunities that the Agreement will create for both Lao and Australian business and investment.
“The ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) entered into force in Australia on 1 January 2010 this year and is set to enter into force in Laos shortly” Dr Forster said. “The AANZFTA is the most comprehensive FTA that ASEAN has ever concluded. It covers wide ranging provisions on trade in goods, investment and services, as well as factors affecting trade behind the border.”
“Australia and Laos have significant trade and investment ties. Australian companies have made a strong contribution to Laos’s economic development, particularly in the mining, services, and financial services sectors. The AANZFTA will not only build upon this base, but enable trade and investment links to strengthen and evolve into new areas. Importantly, this will mean that the AANZFTA opens up new opportunities for both Lao and Australian businesses” added Dr Forster.
For Laos, another very important aspect of the ASEAN-Australia-New Zealand Free Trade Agreement is that it also includes an emphasis on economic cooperation, to build capacity and help maximise the benefits that the FTA will deliver.
The AANZFTA covers 12 countries, including a population of 600 million people and encompasses a region with a combined GDP of more than $3.1trillion.
Opened by Mr Siaosavath Savengsuksa, Vice-Minister of Industry and Commerce, and Australian Ambassador, Dr Michele Forster, the workshop introduced the AANZFTA to both the local Lao and Australian business communities. Entitled “Understanding the AANZFTA: Outcomes and Opportunities for Business”, the workshop promoted the opportunities that the Agreement will create for both Lao and Australian business and investment.
“The ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) entered into force in Australia on 1 January 2010 this year and is set to enter into force in Laos shortly” Dr Forster said. “The AANZFTA is the most comprehensive FTA that ASEAN has ever concluded. It covers wide ranging provisions on trade in goods, investment and services, as well as factors affecting trade behind the border.”
“Australia and Laos have significant trade and investment ties. Australian companies have made a strong contribution to Laos’s economic development, particularly in the mining, services, and financial services sectors. The AANZFTA will not only build upon this base, but enable trade and investment links to strengthen and evolve into new areas. Importantly, this will mean that the AANZFTA opens up new opportunities for both Lao and Australian businesses” added Dr Forster.
For Laos, another very important aspect of the ASEAN-Australia-New Zealand Free Trade Agreement is that it also includes an emphasis on economic cooperation, to build capacity and help maximise the benefits that the FTA will deliver.
The AANZFTA covers 12 countries, including a population of 600 million people and encompasses a region with a combined GDP of more than $3.1trillion.
