On January 3, 2025, the Bank of the Lao PDR (BOL) issued Decision No. 11/BOL on the Use of Foreign Currency in Lao PDR, taking effect on the same date. This decision sets out the rules for using foreign currency in Laos and ensures the Lao kip (LAK) remains the primary currency while allowing flexibility for international transactions. Key points in the decision are outlined below. Permissible Activities for Foreign Currency The decision provides that authorized entities can use foreign currency as a secondary currency to LAK in the setting of cost and pricing structures, announcing and advertising prices, and making or receiving payments for goods and services that are imported or have manufacturing inputs imported from other countries. Otherwise, LAK is the only permitted currency. The decision also stipulates that foreign exchange must be conducted only via authorized commercial banks or foreign exchange markets. The exchange rate for setting costs, pricing structures, announcing and advertising prices, and making and receiving payments for goods and services in foreign currency must match the exchange rate announced by commercial banks from time to time. Businesses Allowed to Use Foreign Currency The decision allows certain businesses and organizations to use foreign currency. These entities are divided into two groups: those that need approval before using foreign currency, and those that can use it immediately. Enterprises that can use foreign currency with BOL approval include: Businesses that export goods or services and entities that lease or obtain concessions from the government, generating revenue in foreign currency through commercial banks. Enterprises that provide international freight and passenger transportation services. Enterprises that provide services related to cross-border logistics and warehousing. Enterprises located at international borders and airports, such as duty-free shops and restaurants. Enterprises that have obligations to make payments in foreign currency to other

The fourth round of negotiations of the EU-Thailand Free Trade Agreement (FTA) wrapped up in Bangkok in November 2024. Now that the latest summary report is out, it is worth highlighting some of the intellectual property (IP)-related changes we might see once the chapter is complete. Copyright If Thailand were to agree to follow the EU proposal, we would see the term of protection for copyright extended. Currently under Thai law, protection is the life of the author plus fifty years. This is twenty years less than the EU proposal. It seems that copyright is one area the two sides have yet to agree on, and it is no wonder as agreeing to follow Thai law would deprive authors from the EU of an additional twenty years of protection post-death. On the other hand, Thailand agreeing to the EU proposal would likely result in legislative change in the country to align domestic law with the FTA. We may also see more robust and streamlined collective management organizations (CMOs) in Thailand. The current proposal calls for each party to promote cooperation between their CMOs, which would extend to transparency over their running, including revenue and representation agreements. Thailand does currently have CMOs within the territory, and the Department of Intellectual Property (DIP) has a voluntary CMO code. However, it is unclear whether existing practice will be sufficient for EU rightsholders. CMOs have been an area that is difficult to regulate as there has been a balancing act between tightening the examination of reporting and not wanting to limit the freedom of rightsholders and how they commercialize their IP. Trademarks There is a fair amount of overlap between the Trademark Act in Thailand and the EU proposals. However, it is unclear to what degree the existing laws would satisfy the requests

Myanmar’s Ministry of Commerce (MOC) announced a significant policy change allowing foreign companies incorporated in Myanmar under the Myanmar Companies Law 2017 to export eight categories of locally produced commodities, with effect from December 17, 2024. Notification 93/2024 allows eligible foreign companies—companies with more than 35% of their shares held by foreign entities or individuals—to export, manufacture, or trade the following additional commodities: Value-added meats, fish, and fishery products Value-added agricultural products Pulp and various papers Seeds Refined metals Semifinished or finished horticultural products, including fruits and vegetables Wood-based furniture Products supporting environmental conservation The notification, which was issued under the Export and Import Law 2012, does not set a minimum capital requirement for foreign companies taking advantage of these opportunities. Any type of foreign company can apply to export the eight commodities listed above. Companies permitted or endorsed by the Myanmar Investment Commission (MIC) that wish to engage in these opportunities must also adhere to the rules and regulations set by the MIC. To facilitate the export process, the notification specifies that foreign companies must obtain an export recommendation from the relevant government departments and an export license from the MOC’s Department of Trade for each of these commodities. For more information on this announcement, the relevant licensing authorities for different commodities, or any other aspect of import and export matters in Myanmar, please contact Tilleke & Gibbins at [email protected].

The EU-Thailand Free Trade Agreement is drawing a lot of interest as the fourth round recently concluded in Bangkok. Despite negotiations starting in 2013, there was a ten-year pause before we saw the first round of negotiations end in September 2023. The initial plan was for four rounds of negotiations, with the free trade agreement (FTA) finalized in 2025. However, following the fourth round it is clear that the negotiations are still ongoing. Now, the question is: how much closer are the EU and Thailand to concluding their FTA? The EU initially submitted 13 chapter proposals for the FTA, followed by a further 12, and these became the springboard for the negotiations. Given the complexity of agreeing on an accord of this size, there will probably be additional proposals submitted in 2025. These chapters have seen sector-specific negotiation groups formed, and although it has been difficult to truly gauge the status, steady progress has been made in each. Arguably one of the biggest points of discussion pertains to the customs process for imports and exports. Both sides aim to align their practices in relation to rules of origin and custom rates, with preferential tariff treatments offered to goods originating from Thailand and the EU, as well as talks of eliminating or reducing relevant taxes. The desire for a faster customs clearance can be seen in EU proposals for clearance of goods on arrival. Although there has been progress in agreeing to a more simplified customs process, more work needs to be done before we hear news of the agreed-upon fees and charges, or confirmation of what goods would be allowed temporary admission. When we consider customs clearance, it is important to also examine what this FTA could mean for rightsholders. One piece of good news is that it appears