Representatives of Laos and the United States launch the electronic Certificate of Origin issuing system in Vientiane. - Photo: Vientiane Times/ANN
VIENTIANE: The government has launched the enhanced Electronic Certificate of Origin (e-CO) Issuing System, to further facilitate cross-border trade for businesses, in a joint effort between Laos and the United States.
The Ministry of Industry and Commerce, with support from the United States Agency for International Development (USAID), launched the system on Wednesday (July 31).
The launch was attended by Deputy Minister of Industry and Commerce Manothong Vongsay and the United States Ambassador to Laos, Heather Variava.
The e-CO provides a convenient way for businesses to obtain Preferential Certificates of Origin for their exports, saving them time and cost in accordance with Lao and international regulations.
The system can be accessed at https://www.ecolao.gov.la/.
The e-CO Issuing System, governed by the ministry’s Department of Foreign Trade, provides a service where businesses, including small and medium enterprises, can file official requests for Certificates of Origin online.
The Certificate of Origin plays a crucial role in international trade by providing evidence of a product’s origin, allowing it to be eligible for preferential treatment across international borders.
Manothong highlighted USAID’s support to advance Laos’ national strategy to improve the enabling business environment and facilitate cross border trade.
“The launch of the enhanced e-CO system is a significant step forward for Lao businesses. By simplifying export procedures, we are empowering them to reach new markets and contribute to the growth of our export sector,” he said.
Ambassador Variava congratulated the Lao government, particularly the Ministry of Industry and Commerce, for its leadership in strengthening private sector competitiveness through this enhancement of the e-CO issuing system.
“The e-CO system is a testament to the joint effort between Laos and the United States to foster private sector growth,” Ambassador Variava said.
“The event also celebrates collective efforts and calls for all stakeholders in both the public and private sectors to use this platform to enhance Laos’ regional and international market integration.”
The enhanced e-CO system offers a multitude of benefits for Laos’s businesses.
By enabling them to export eligible goods at reduced or exempt tariffs, the system enhances the competitiveness of companies in Laos in the global market.
Additionally, it streamlines customs procedures, reducing delays and costs associated with obtaining documentation.
This, in turn, facilitates the swift movement of goods, fostering smoother trade flows.
Ultimately, it will unlock new opportunities for businesses, leading to increased investment, job creation, and overall economic prosperity for Laos.
In recent years, the United States, through the USAID Laos Business Environment project, has collaborated closely with the Ministry of Industry and Commerce to facilitate trade and foster a more conducive environment for investment, trade, and the competitiveness of small and medium-sized enterprises.
This partnership has led to the development and amendment of several regulations and procedures, including the enhancement of systems and platforms. - Vientiane Times/ANN
