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(KPL) The Ministry of Industry and Commerce, through the Department of Foreign Trade Policy, has launched the newly upgraded Electronic Certificate of Origin (e-CO) system on July 31, 2024.
(KPL) The Ministry of Industry and Commerce, through the Department of Foreign Trade Policy, has launched the newly upgraded Electronic Certificate of Origin (e-CO) system on July 31, 2024.
The upgraded e-CO system is designed to provide significant benefits and convenience for Lao businesses, enabling them to export goods that meet various conditions, pay reduced or zero tariffs, and enhance their competitiveness in the global market.
The system also streamlines the customs process, reducing delays and costs associated with document preparation, and facilitates faster and smoother movement of goods.
Deputy Minister of Industry and Commerce, Mr. Manothong Vongsa, highlighted the support from the United States Agency for International Development (USAID) in the development of the national strategy to improve the business environment and facilitate cross-border trade.
The launch of the e-CO system marks a crucial step in easing business operations in Laos, particularly by simplifying procedures and strengthening the capacity of businesses to access new markets, contributing to the growth of the export sector.
US Ambassador to Laos, Heather Variava, expressed her appreciation to the Lao government, especially the Ministry of Industry and Commerce, for their leadership in enhancing business competitiveness through the e-CO system. She praised the collaborative efforts between the United States and Laos in promoting a conducive environment for business growth.
The e-CO system, managed by the Department of Foreign Trade Policy, offers services to businesses of all sizes, allowing them to officially apply for certificates of origin online. This system plays a vital role in international trade, as it can provide proof of origin, granting goods preferential treatment in cross-border trade.
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