The Ministry of Industry and Commerce (MOIC) has been actively working towards integrating the country’s economy into global production chains and regional markets.
Recent meeting of the 8th ASEAN Regional Integration Support from the EU (ARISE Plus Lao PDR) Project Review Committee took place in Vientiane, with support from the International Trade Centre (ITC) and the European Union (EU), to review progress, address challenges, and identify ways in which the integration efforts could be enhanced further.
With its launch in 2019, the EU-funded ARISE Plus Lao PDR project has since provided support to the public and private sectors with a focus on smallholders and SMEs in order to integrate the Lao economy into global production chains.
The project is now in its final year, it remains committed to providing continuous opportunities for the public and private sectors in the Lao PDR, with a specific focus on the two key sectors: coffee and wood processing.
Several key outcomes of the project have been achieved, including recommendations on trade policy, capacity-building, and assistance with policy design and implementation.
Additionally, stakeholders have been able to better understand trade intelligence and opportunities.
Notably, the project has contributed to the growth of the coffee and processed wood sectors, including specialty coffee. In the past six months, efforts have been made to consolidate results, complete remaining activities, and collaborate with other projects.
This will enhance the project’s sustainability and allow for a comprehensive analysis of its impacts through an improved monitoring framework.
The project is set to conclude in December 2023.
“During the first six months of this year, after the project was approved for an additional year without cost extension, the project has been able to accomplish many activities according to its plan. Examples include improving the assessment of the ASEAN Trade Agreement (ATIGA), dividing the responsibilities among the relevant sectors, and developing monitoring tools; and improving the study on the trade impact of LDC graduation,” said Mr Khamphet Vongdala, Director-General, Department of Planning and Cooperation, MOIC.
“I am confident that the second half of 2023 will see even an acceleration of this fast pace, to reach the completion and full achievement of all the activities by the end of the project. Given the very high commitment and the excellent relationship we have developed with MoIC, with NIU, with other partners such as LNCCI, and with the EU Delegation, I am sure that we will attain all the objectives that were set at the inception of the project,” said Mr. Ashish Shah, Director of the Division of Country Programmes, ITC.
In the four and a half years since the project began, an impressive total of 1,812 individuals have benefited from its diverse range of activities. The numbers highlight its commitment to fostering widespread participation and delivering tangible outcomes for all stakeholders
“The EU is very pleased with ARISE Plus concrete outputs that fully contributes to our cooperation objectives and our vision of a win-win partnership with the Lao PDR the project is playing crucial role to support the Lao PDR to benefit better from regional integration and trade agreement, such as the ASEAN, the Regional Comprehensive Partnership and other Free-Trade agreement negotiations,” said Ms. Ina Marciulionyte, Ambassador of the European Union to the Lao PDR.
Source: Lao News Agency