Laos' Path towards the Asean Economic Community

Over the last thirty years, Laos has made remarkable progress in implementing economic reforms and building the institutions necessary for a market economy, culminating in accession to Asean in 1997 and to the World Trade Organization (WTO) in 2013. The purpose of this book is first to outline the Laos' economic transformation from 1986 to present and then to examine the positioning of Laos in the ASEAN Economic Community (AEC). It also proposes to explore how the AEC will impact Laos and how the country is expected to benefit from the free flow of goods, services, investments, and skilled labor, and the freer movement of capital across the region. Now Laos is entering in a new phase of growth that will create an opportunity to achieve the regional connectivity, its socioeconomic development strategy until 2025 and the government Vision 2030, but it also perceives constraints in numerous aspects. Laos' Path Towards the AEC highlights in what way the country can respond to these economic changes and the regional integration, including the implication for its processing industries, market prospect, obstacles, threats, and competitiveness. The book also addresses the major forces driving sustainable development and identifies twelve key challenges Laos will face in the years to come, projects Laos' standing in the future, and concludes by briefly summarizing some concrete recommendations and challenges to overcome.