DILI, Timor-Leste, April 9, 2024 — To facilitate cross-border trade and provide more transparent and predictable trade information for businesses, the Timor-Leste Ministry of Commerce and Industry today launched the Timor-Leste Trade Information Portal (www.tip.mci.gov.tl), which has been supported by the World Bank.
Through the portal, the government aims to make import and export activity easier and less costly. The portal is also intended to reinforce the country’s efforts to integrate into regional and global markets.
"The Timor-Leste Trade Information Portal aims to improve the country's business environment,” said Timor-Leste Deputy Prime Minister Francisco Kalbuadi Lay. “With access to the right information at the right time, local businesses will be able to confidently venture into regional and international markets —helping to diversify the economy and improve the life of our people through trade."
The web-based system provides a single source for all cross-border trade information. Over 165 laws, regulations, procedures, and other trade-related measures from 22 different government agencies are now accessible online. Businesses can also find licenses, permits, and applicable fees through the portal.
The portal is the latest government initiative to improve cross-border trade and create a conducive business environment and follows Timor-Leste's accession to the World Trade Organization (WTO) in February. The development of the portal complies with the WTO Trade Facilitation Agreement and is aligned with the country’s post-accession strategy. Once launched, the portal will also meet ASEAN National Trade Repository (NTR) requirements for transparency on trade laws and procedures in line with the ASEAN Trade in Goods Agreement (ATIGA) by providing.
"Trade is an important engine of growth for Timor-Leste," said World Bank Country Manager for Timor-Leste Bernard Harborne. " Having fast and easy access to trade information and procedures is crucial for traders and investors. The Timor-Leste Trade Information Portal is an essential piece of a larger, on-going effort by Timor-Leste to grow its private sector and create jobs and opportunities. The World Bank firmly supports these efforts."
It is hoped that a single, easily searchable platform containing all trade regulations and procedures will be especially useful to smaller enterprises interested in or involved in the import, export, and transit businesses. Another anticipated benefit from greater transparency is expected to be feedback from stakeholders about ways government could modernize and simplify regulations and procedures.
“The portal is an active response towards meeting the needs of the private sector,” said Chairman, Timor-Leste Chamber of Commerce – Jorge Serano. “We anticipate that it will greatly contribute to the ease of doing business and our members will be active users of the platform.”
As part of the World Bank’s engagement in Timor-Leste, the creation of the portal was supported by the Trade Facilitation Support Program, which is managed by the World Bank and funded by nine donor partners:
Australia, Canada, the European Commission, the Netherlands, Norway, Sweden, Switzerland, the United States, and the United Kingdom.
Visit: https://timor-lestetradeportal.com to find out more
Source: here
April 23, 2024
