Recent Events and Developments in Laos
Laos assumed the ASEAN chair in 2004 and hosted the annual ASEAN summit in November. 2005 brought further economic cheer to the Laotians with the US easing its punitive import taxes and resuming normal trade ties.
Laotian communist regime obtained World Bank loan in 2005 for the construction of the Nam Theun hydroelectric dam project meant for generating electricity for export. However the project faced protests owing to its adverse environmental impact.
Choummaly Sayasone succeeded Khamtay Siphadone as Laos President in 2006 and in the same year more than 400 members of the pro-US Hmong ethnic group, who had been living in the jungles since 1975, surrendered to the Laotian authorities.
In 2007 the US prosecuted nine people including the former General Vang Pao of plotting a coup in Laos, however a California court ordered his release. The Laos government took measures to further open-up its economy in 2008 by taking initial steps to become a full member of the WTO. The Laos economy has recorded an impressive 6% plus GDP growth rate since 1988.
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