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San Francisco– United States Trade Representative Michael Froman and Lao Minister of Industry and Commerce Khemmani Pholsena today signed a bilateral Trade and Investment Framework Agreement. This agreement creates a forum for the United States and Laos to engage on bilateral trade and investment issues, such as intellectual property, labor, environment, and capacity building; as well as to coordinate on multilateral and regional issues, including related to the Association of Southeast Asian Nations (ASEAN).
“Today’s agreement provides a vehicle for strengthening U.S.-Lao trade and investment relations,” said Ambassador Froman. “It reflects President Obama’s commitment to ASEAN and it will promote increased economic opportunities between us.”
Two-way goods trade between the United States and Laos grew five-fold in the past 10 years to $70 million. Two-way agricultural trade grew eight-fold in the same period to $8 million.