Lao People's Democratic Republic
Cite as https://mymun.com/ppdb/3349
Position Paper of Lao People's Democratic Republic in Association of Southeast Asian Nations
- Topic A: Trade
With significantly larger reliance on FDI as a driver of trade growth, ASEAN remains the most trade oriented among major regional cooperation within developing countries. At the 2003 ASEAN Summit in Bali, ASEAN leaders agreed to integrate their economies by 2020 and establish an ASEAN Economic Community (AEC). The end-goal of the AEC is the creation of an integrated market and production base where there is free flow of goods, services, investments, capital, and skilled labour. However, there are several things that hinder ASEAN from achieving fair trade in the region, such as development gap, low innovation of goods, and lack of integration. In the past, ASEAN wanted to enhance the ASEAN dispute settlement mechanism (DSM) to ensure compliance from member states. But until today, the ASEAN DSM has never been used by any member country. This is not surprising, given ASEAN’s consensus-driven and non-confrontial decision-making process as well as the politically charged nature of any trade-related DSMs.
“Lao PDR recognizes that AEC will bring both important opportunitie...