The event, a collaboration between the Lao Academy of Social and Economic Sciences (LASES) and the University of Adelaide, brought together policymakers and experts to address the "dynamic shifts" in global trade and geopolitics.

In her opening remarks, Australian Charge d’Affaires Benita Sommerville emphasized the urgency of the dialogue. "The world is becoming less certain and more divided," she noted, reaffirming Australia's commitment to supporting Laos’ transition from Least Developed Country (LDC) status through the Laos-Australia Comprehensive Partnership.

The workshop, led by Prof Peter Draper Executive Director of the Institute for International Trade, School of Economics and Public Policy, University of Adelaide, provided practical policy tools to help Laos navigate complex regional changes. Sommerville highlighted several key Australian-supported initiatives designed to foster economic dynamism, including Australia’s Southeast Asia Economic Strategy to 2040, targeting clean energy and sustainable agriculture; LIFT4LAOS: Strengthening investment policy frameworks to attract high-quality, responsible capital; and LASEP & EnergyLab: Supporting a sustainable and profitable energy sector.

Addressing Global Headwinds

Ms. Latdavanh Songvilay, Director-General of the Macroeconomic Research Institute, highlighted the immediate relevance of the workshop. She pointed out that global conflicts, specifically in the Middle East, have directly impacted the Lao economy through rising oil prices and inflationary pressures.

"We had been able to bring down inflation to a single digit, but rates are likely to return to two digits in the near future," Ms. Songvilay cautioned, adding that the exchange of knowledge with Professor Draper was "timely" for developing effective policy responses.

As Laos and Australia enter their 74th year of diplomatic relations, the workshop underscores a modern partnership focused on building robust public institutions and ensuring long-term regional prosperity.

KPL