Laotian Prime Minister Sonexay Siphandone has unveiled plans to seek membership in both the Shanghai Cooperation Organization (SCO) and the BRICS nations, citing the potential for expanded economic cooperation and global trade. The initiative is prompted by challenges such as recent U.S. tariffs on Laotian exports, which have restricted access to key markets. Laos has already been granted dialogue partner status in the SCO, and the prime minister emphasized the need for greater economic integration with member states and dialogue partners.
At the recent SCO summit in China, President Thongloun Sisoulith represented the nation, highlighting the growing strategic importance of the bloc. Siphandone noted that dialogue partnership will open new opportunities for trade and investment, particularly in light of the 40% tariffs imposed by the United States on Laotian goods. He also expressed the country’s intent to join BRICS, which he praised for its role in promoting multilateral cooperation and reshaping the global economic order.
The prime minister viewed BRICS as a significant cooperation platform for global trade across Asia, Europe, Latin America, and Africa. He pointed out that the bloc has surpassed the G7 in terms of combined GDP in PPP terms, underscoring its growing influence. Laos aims to pursue economic cooperation that is ‘free, free of choice, and fair in our negotiation processes,’ according to Siphandone. The country’s strategy reflects a broader effort to diversify its economic relationships and counterbalance the effects of protectionist policies in the West.