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World Bank support helps Lesotho to develop the first trade portal in Africa

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World Bank support helps Lesotho to develop the first trade portal in Africa

Updated on : 24-03-2014


World Bank support helps Lesotho to develop the first trade portal in Africa

The World Bank is pleased to be supporting the Kingdom of Lesotho in the development of the Lesotho Trade Information Portal, as a component of the Lesotho - South Africa Customs Collaboration Project.  The development of the Trade Information Portal in Lesotho has been funded through the Trade Facilitation Facility, which is a trust fund administered by the World Bank with contributions from the UK, the Netherlands, Sweden and Canada.

The World Bank recognizes the importance to trade facilitation of reliable and up to date information about the regulatory environment being available to traders and other stakeholder.  It therefore actively supports the development of trade portals as a single online authoritative source of all laws, regulations, and procedures for traders and government agencies involved in the import and export of goods.  Trade portals also bring greater transparency and predictability to trade transactions, and reduce the time and cost of obtaining information conducting transactions.  Regulatory authorities themselves benefit because providing better access to information means improving the quality of documentation and the levels of compliance.

This project has been realized through the commitment of the Government of the Kingdom of Lesotho, the leadership of the LRA and the goodwill of the Peoples Democratic Republic of Laos, which has shared its experience and knowledge through a Memorandum of Understanding between the two countries.  In June 2012, with World Bank support, the Lao PDR Trade Portal was launched ( http://www.laotradeportal.gov.la/ ) and has proven to be very successful and widely used by traders.  

As the first Trade Portal of its type in Africa, the LTP will set a new standard for communication with traders.  


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