The Lao National Assembly has approved a new banking law, aiming at developing its private banking sector as part of its efforts to join the World Trade Organization. Laos has said it will do everything to meet the necessary requirements for it to become a full WTO member by the end of 2007.
The new law was passed during the recently concluded 2nd session of
the 6th Legislature, and will become effective within six months after its dissemination to the general public and a presidential decree to enforce it.
Listen to our Laos Today report for more details.