Agreement on Establishing Foreign Chambers of Commerce in the Lao People's Democratic Republic
关于设立驻老挝人民民主共和国外国商会的协议
ຂໍ້ຕົກລົງ ວ່າດ້ວຍການສ້າງຕັ້ງສະພາການຄ້າຕ່າງປະເທດ ປະຈຳ ສປປ ລາວ
Summary
This agreement, promulgated by the Ministry of Industry and Commerce, stipulates principles, regulations, and measures for the establishment, operation, and management of foreign chambers of commerce and foreign commercial representative offices in the Lao PDR, to facilitate coordination and operation of foreign business organizations and protect their legitimate rights and interests, consisting of 6 chapters and 23 articles.
Articles
Article 1
Purpose. This Agreement stipulates the principles, regulations, and measures concerning the establishment, operation, and management of foreign chambers of commerce and foreign commercial representative offices in the Lao People's Democratic Republic, aiming to facilitate coordination and business activities by foreign commercial organizations, promote and protect the legitimate rights and interests of foreign commercial entities operating in the Lao People's Democratic Republic, render the management of commercial entities institutionalized and effective, and comply with the laws and regulations of the Lao People's Democratic Republic as well as treaties and obligations signed between the Lao People's Democratic Republic and foreign countries.
Article 2
Foreign chambers of commerce in the Lao People's Democratic Republic. Foreign chambers of commerce in the Lao People's Democratic Republic, abbreviated as "Foreign Chamber of Commerce," are established in accordance with the laws and regulations of the Lao People's Democratic Republic, serving as representatives of a group of foreign businesspersons, which may be business associations, chambers of commerce, branches of chambers of commerce, and representative offices of business entities operating in the Lao People's Democratic Republic.
Article 3
Basic principles for the establishment and operation of foreign chambers of commerce in the Lao People's Democratic Republic. The basic principles for the establishment and operation of "foreign chambers of commerce" are as follows: 1. Establishment shall be voluntary and proactive in accordance with the law, with voluntary participation in activities according to the regulations of the "foreign chamber of commerce"; no person may restrict or compel participation; 2. Activities shall be conducted regularly, or in accordance with the term of appointment and delegation of the "foreign chamber of commerce" to which they belong; 3. All activities of the "foreign chamber of commerce" shall be under the management of the management authority for foreign chambers of commerce in the Lao People's Democratic Republic and shall be accountable to laws and regulations; 4. After establishment, it must join the Lao National Chamber of Commerce and Industry as a member; 5. Financially self-financing; 6. Activities shall be conducted on a non-profit basis; 7. Transparent, open, and equal before the law.
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