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LAO PDR’s Progress in International Cooperation and Asset Recovery

Vientiane, Laos - The Lao People’s Democratic Republic (Lao PDR) has made significant progress in the area of international cooperation and asset recovery, demonstrating its commitment to combating corruption and money laundering.

International Cooperation

According to a recent report, the Lao PDR has signed three bilateral treaties with Vietnam, China, and South Korea, and is a party to the ASEAN Treaty on Mutual Legal Assistance in Criminal Matters. The country’s central authority for mutual legal assistance (MLA) is the Office of Supreme People’s Prosecutor, which coordinates with other related organs such as:

  • Ministry of Public Security
  • People’s Supreme Court
  • Ministry of Foreign Affairs
  • Ministry of Justice
  • Local Administration authorities

MLA Procedures and Documents

The Lao PDR requires that MLA requests and supporting documents be translated into Lao or other languages specified in the treaty. The country has a list of 10 reasons for refusing MLA requests, including:

  • Failure to specify details on how the requested information or assistance will be used
  • Lack of specificity regarding the objectives of the request

Asset Recovery and Financial Intelligence

The Lao PDR has implemented measures to prevent and detect transfers of proceeds of crime through its Financial Intelligence Unit. The country has also established a National Coordination Committee for Anti-Money Laundering and Countering the Financing of Terrorism, which recognizes claims of legitimate owners over seized, frozen, or confiscated assets.

International Cooperation and Asset Recovery

The Lao PDR has completed two rounds of financial disclosures of public officials and has implemented measures to recover property through international cooperation in confiscation. The country’s Criminal Procedure Law allows individuals, organizations, or enterprises from foreign countries to file claims against persons in the Lao PDR.

Conclusion

In conclusion, the Lao PDR has made significant progress in the area of international cooperation and asset recovery. With its recent adoption of relevant legislations, including the Law on International Cooperation in Criminal Matters, the country is well-positioned to strengthen international cooperation and asset recovery efforts with other states parties.

END

Note: This article appears to be a speech delivered at an international conference or meeting, likely related to anti-money laundering and countering terrorist financing efforts. The language used is formal and professional, reflecting the tone of a media article reporting on a government’s initiatives in this area.