The Ministry of Industry and Commerce (MOIC) of Laos, with support from the United States Agency for International Development (USAID), has launched an enhanced Electronic Certificate of Origin (e-CO) Issuing System, local media reported.
Participants at the launching ceremony (Photo: VNA)
Vientiane (VNA) - The Ministry of Industry and Commerce (MOIC) of Laos, with support from the United States Agency for International Development (USAID), has launched an enhanced Electronic Certificate of Origin (e-CO) Issuing System, local media reported.
The launch is an important step forward for the Lao business sector, allowing businesses to easily obtain Certificates of Origin for their exports, helping them comply with regulations in Laos and internationally.
The e-CO Issuing System, governed by the Department of International Trade, MOIC, provides a service where businesses, including small and medium enterprises, can file official requests for Certificates of Origin online. The CO 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.
Lao Deputy Minister of Industry and Commerce Manothong Vongsay said that launch of the enhanced e-CO system is a significant step forward for Lao businesses. By simplifying export procedures, the country is empowering them to reach new markets and contribute to the growth of its export sector, he added.
US Ambassador to Laos Heather Variava congratulated the Government of Lao PDR, particularly MOIC, 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 the Laos and the US to foster private sector growth, stated Ambassador Variava, caꦚlling for all stakeholders both in the public and private sectors to use this pl﷽atform to enhance Laos’s regional and international market integration./.
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