U.S., Laos Sign Bilateral Trade Framework Pact
U.S. Trade Representative Michael Froman and Lao Minister of Industry and Commerce Khemmani Pholsena on Feb. 18 signed a bilateral Trade and Investment Framework Agreement, which will create a forum for the two countries to engage on issues such as…
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capacity building and intellectual property, and to coordinate on multilateral and regional issues, including those that involve the Association of Southeast Asian Nations (ASEAN), the Office of the U.S. Trade Representative said in a press release. “Today’s agreement provides a vehicle for strengthening U.S.-Lao trade and investment relations,” Froman said in a statement. “It reflects President Obama’s commitment to ASEAN and it will promote increased economic opportunities between us.” Bilateral trade between the U.S. and Laos has increased five-fold since 2011 to $70 million, including an 800 percent increase in agricultural trade, to $8 million.