At the launching ceremony (Photo: laotiantimes.com) Geneva (VNA) – Laos and theEuropean Union (EU) on September 9 made a major step forward in bolsteringtrade and investment with the ARISE Plus-Laos programme with a total budget of5 million EUR (5.52 million USD).
The ASEAN Regional Integration Support –Lao People’s Democratic Republic Trade-Related Assistance (ARISE Plus-Laos)programme is designed to enhance Laos’s export competitiveness and integrationin export in regional and global value chains.
It will seek to promote trade and tap intothe potential of the two chosen sectors of wood processing and specialtyagriculture, which enables small and medium-size enterprisesin Laos to increase their export knowledge, includingon how to trade better and more with partners in the EU.
As the fourth largest trade partner ofLaos, the EU voiced its hope that the country will take advantage of itsmembership of the World Trade Organisation (WTO) and reap the benefits ofgreater access to global markets.
The EU also wants to step up assistance toLaos to strengthen its economic integration into ASEAN (Association ofSoutheast Asian Nations).
The programme was launched during theofficial visit to Laos of Neven Mimica, European Commissioner for InternationalCooperation and Development, and Arancha Gonzalez, Executive Director of the InternationalTrade Centre (ITC), a joint agency of the United Nations and the WTO.
Between 2014 and 2020, the EU provided Laoswith 203 million EUR (224.18 million USD) in financial aid and investment,nearly tripling its investment in the previous phase.-VNA
The ASEAN Regional Integration Support –Lao People’s Democratic Republic Trade-Related Assistance (ARISE Plus-Laos)programme is designed to enhance Laos’s export competitiveness and integrationin export in regional and global value chains.
It will seek to promote trade and tap intothe potential of the two chosen sectors of wood processing and specialtyagriculture, which enables small and medium-size enterprisesin Laos to increase their export knowledge, includingon how to trade better and more with partners in the EU.
As the fourth largest trade partner ofLaos, the EU voiced its hope that the country will take advantage of itsmembership of the World Trade Organisation (WTO) and reap the benefits ofgreater access to global markets.
The EU also wants to step up assistance toLaos to strengthen its economic integration into ASEAN (Association ofSoutheast Asian Nations).
The programme was launched during theofficial visit to Laos of Neven Mimica, European Commissioner for InternationalCooperation and Development, and Arancha Gonzalez, Executive Director of the InternationalTrade Centre (ITC), a joint agency of the United Nations and the WTO.
Between 2014 and 2020, the EU provided Laoswith 203 million EUR (224.18 million USD) in financial aid and investment,nearly tripling its investment in the previous phase.-VNA
VNA
