(KPL) Export promotion plays an important role in addressing the country's economic difficulties as it can resolve many problems at the same time including problems with trade balance, currency balances, inflation, exchange rates, foreign reserves and debts.

Mr Malythong Kommasit, Minister of Industry and Commerce answered the questions raised by members of the National Assembly at the ongoing 7th Ordinary Session of the national legislative body in Vientiane on Jun 13.

He said that the export promotion is possible when there are products that are in sufficient quantity, of good quality, with reasonable prices and needed by the market.

In order to ensure the production in the country meets export demand in terms of quantity and quality, the Ministry of Industry and Commerce has focused on promoting the production of products that are potential in localities so that they can be competitive with those imported from neighboring countries.

We are working with all sectors and local government agencies to develop a database of products that can be sourced according to their quantity, quality and prices and we are negotiating the opening of markets for the products that are potential in our country, negotiating the solutions with respect to two areas: tax and technical aspects, improving procedures and related legislations to ensure they are up-to-date and facilitate trade, exports, and remove unnecessary procedures.

KPL