For Immediate Release
Press Release
Vientiane Capital, July 31, 2024 — To further facilitate cross-border trade for businesses, the Ministry of Industry and Commerce (MOIC), with support from the United States Agency for International Development (USAID), launched the enhanced Electronic Certificate of Origin (e-CO) Issuing System.
The launch event was attended by Deputy Minister of Industry and Commerce Manothong Vongsay and United States Ambassador to Lao PDR Heather Variava. Over 100 representatives from government ministries and private firms participated both in-person and online.
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 PDR and international regulations. The system can be accessed at https://www.ecolao.gov.la/.
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.
Deputy Minister Vongsay highlighted USAID’s support to advance Laos’s 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," said Deputy Minister Vongsay.
Ambassador 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 Lao PDR and the United States to foster private sector growth,” stated Ambassador Variava. “Today we celebrate our collective efforts and call for all stakeholders both in the public and private sectors to use this platform to enhance the Lao PDR’s 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 the Lao PDR 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 Lao PDR.
In recent years, the United States, through the USAID Laos Business Environment project, has collaborated closely with MOIC 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.
