Co-organized by ESCAP and the Ministry of Industry and Commerce of Lao PDR
In moving forward in the area of trade facilitation and paperless trade in Lao PDR, legal and technical readiness assessments for cross-border paperless trade, i.e., the conduct of international trade transactions on the basis of electronic data and documents – as opposed to paper-based data and documents, was completed in 2021. The assessments were conducted following readiness checklists developed by the ESCAP Interim Intergovernmental Steering Group on Cross-Border Paperless Trade Facilitation.
Digital trade facilitation offers great opportunities to reduce trade costs and increase trade volumes of Lao PDR, enhance its competitiveness in the regional and global markets and improve the effectiveness of its participation in global value chains, contributing to reaching the objective of becoming a “land-linked” country.
The assessments were supported by ESCAP, through a project entitled “Facilitating Cross-Border Paperless Trade along the Belt and Road Initiative (BRI) Corridors for Regional Integration and Sustainable Development - Phase II”. This project intends to assist the States in the Asia and Pacific region to become more integrated and better utilize trade as an engine of sustainable development, to develop voluntary trade facilitation and paperless trade action plans to remove bottlenecks, promote cross-border electronic commerce, and create seamless BRI trade corridors.
The purpose of the national consultation is to review the recommendations, and draft action plan, based on the findings from the assessment.