Last updated: 24 Jan 2012
Market profile
Doing business
Lao people should be addressed by their first names, preceded by their title ‘Mr/Madame’ or ‘Than’ (the latter if they occupy a position of respect).
More information on doing business in Laos
Country Profile
Content supplied by Department of Foreign Affairs and Trade
- ECONOMIC CLIMATE
Laos is classified as a Least Developed Country (LDC) and relies heavily on donor assistance. It has a target date of 2015 to achieve the Millennium Development Goals, and aims to graduate from LDC status by 2020.
» read more at DFAT
- TRADE RELATIONS
Australia's total merchandise trade with Laos stood at $80 million in 2012, with Australian goods exports to Laos valued at $36 million.
» read more at DFAT
- POLITICAL CLIMATE
Laos became the Lao People's Democratic Republic (Lao PDR) on 2 December 1975 following the abdication of the King, after many years of civil war and political instability.
» read more at DFAT
Top Business Risks
OECD Guidelines for Multinational Enterprises
Multinational Enterprises should be aware of the OECD Guidelines for Multinational Enterprises that provide voluntary principles and standards for responsible business behaviour in a variety of areas, consistent with applicable domestic laws. These Guidelines are endorsed and promoted by the Australian Government. For more information, go to the AusNCP website.
Extractive Industries Transparency Initiative
The Extractive Industries Transparency Initiative (EITI) is a voluntary mechanism which promotes and supports improved governance in resource-rich countries through the full publication and verification of company payments and government revenues from oil, gas, and mining.
The EITI is supported by governments, industry, and non-government organisations around the world. The Australian Government supports the EITI and encourages Australian companies operating internationally to comply with its recommendations.