2.3. Lao PDR foreign trade
The weakness of the financial sector and a lack of transparency in administrative procedures limit the development of trade. However, the government has simplified its procedures and reformed customs barriers. The Laotian foreign trade represents an important share of the GDP. Although Laos is implementing a process to open its economy, the State keeps restrictions for the import of certain goods such as chemical products, weapons and some medications. Products such as construction timber and weapons cannot be exported. Special permits are required to export rice, rough diamonds, gold pieces and polished silver. Foreign trade in Laos is drawn by the intensive growing exploitation of its hydroelectric and mining resources. Customs duties are not very high. Laos protects its domestic industry; however, in order to promote its manufacturing sector, no import duty is levied on equipment for production. Laos became a member of WTO in February 2013. This membership is subject to the adoption of the commitments of the WTO, mainly setting a limit to customs duties, the partial or total opening of all the sectors, respecting the regulations of the WTO regarding inspections before shipping and adopting anti-dumping measures