Ministries partner to streamline cross-border trade

Four ministries are partnering to ensure more efficient customs operations and speed up cross-border trade.
A Memorandum of Understanding (MOU) on integrated risk management and coordination mechanisms to facilitate cross-border trade was signed in Vientiane on Monday by the Director General of the Food and Drug Department, Ministry of Health, Dr Bounsou Keohavong, and the Director General of the Import-Export

Department, Ministry of Industry and Commerce, Mrs Manivone Vongxay.
The MOU was also signed by the Deputy Director General of the Agriculture Department, Dr Soulaphone Inthavong, and Deputy Director General of the Livestock and Fisheries Department, Ministry of Agriculture and Forestry, Dr Sythong Phiphakhavong, together with the Deputy Director General of the Customs Department, Ministry of Finance, Mr Saymanolin Sinbandhit.
The MOU provides for the sharing of information on risk management among the departments involved through the use of the Automated System for Customs Data (ASYCUDA) system.
This system will be used at border crossings to make the inspection of goods being imported and exported more efficient, accurate and uniform.
The MOU was unanimously agreed to by the National Implementation Unit and the ministries concerned.
In addition, the Ministry of Finance has established a Joint Risk Management Committee consisting of the relevant departments to coordinate the collection of information and development of integrated risk profiles for uploading into the ASYCUDA system.
The committee is also responsible for improving the clearance process through a system of risk-based inspections and for providing recommendations to the parties involved for further efficient and effective implementation.                                                                                                                                 
The MOU is an important initiative that provides a framework for collaboration among border agencies to improve border clearance through the World Trade Organisation-Trade Facilitation Agreement (WTO-TFA).
This agreement is being implemented under the Multi-donors Trust Fund- Lao Competitiveness and Trade Project funded by the World Bank, the governments of Australia, Ireland and the USA.

By Times Reporters
(Latest Update December 15, 2021)