Lao trade portal aims to ease import, export barriers
Lao trade portal aims to ease import, export barriers
The Ministry of Industry and Commerce has unveiled a portal which provides local and foreign businesses with guidelines on the import and export of goods.
Industry and Commerce Min ister Dr Nam Vinhaket, local and international senior officials yesterday cut a digital ribbon to launch the Lao Trade Portal in Vientiane, marking a significant milestone in Laos' preparations to join the World Trade Organisation (WTO).
Laos hopes to join the World Trade Organisation by the end of this year. One of the key requirements for membership is the transparent publication of all trade-related information in a way that is easily accessible both by businesses and the sectors concerned.
The Lao Trade Portal, which was built with support from AusAID, GIZ, the EU and the World Bank, will allow local and international traders to access laws, regulations, decrees and other legal instruments, enabling them to expedite imports and exports.
The www.laotradeportal.gov.la also provides other trade and import related information, such as regulations on animal health control, food safety, licensing for specific products, prohibitions and restrictions, and technical conformance standards.
Businesses can also access official announcements on import and export measures, and learn how these may positively or negatively impact their operations. This will help them to adjust to the new business environment.
Dr Nam said he believed the Lao Trade Portal would be a significant contributor to trade facilitation not only in terms of increased transparency but also improving the time it takes to import, export and clear goods in Laos.
“With all the information readily available and clear instructions on how to discharge regulatory obligations, traders should find it quicker and easier to be compliant and discharge all formalities with fewer time consuming interactions,” Dr Nam said as quoted in a media release from the ministry.
Import and Export Department Director General, Mr Khoun Southammakot, said the Lao Trade Portal would not only make it easier for both local and foreign firms to operate in Laos but would help them to save costs.
“We hope the Lao Trade Portal will be seen as a significant contributor to the transparency of doing business in Laos and that this in turn will encourage greater quality foreign investment,” he said as quoted in the media release.
The Lao Trade Portal is a key tool fulfilling the goal of removing all regulatory and administrative bottlenecks, one of the four breakthrough areas identified in the Resolution of the 9th Party Congress.
The portal is also one of the best reflections of Laos' commitment to streamline trade procedures through the use of modern technology in line with Asean policy to ensure the smooth flow of goods within the region.
vientiane times
