Information in all channels is vital for creating a more attractive, yet predictable business environment within IORA. Free access of information is believed as one way for facilitating trade. As a matter of fact, trade facilitation plays a crucial role to improve business activities, particularly for small and medium-sized enterprises (SMEs), investment support institutions and policymakers.
In more globalized yet digital era like nowadays, access to information is unlimited. However, small businesses like SMEs are not able to access more information related to international trade. In the region like IORA, SMEs are key player to run the national economy activities. Therefore, supporting SMEs are among the priority programs in IORA.
To support policy makers, business, and particularly SMEs for running their important jobs in trade and to create enable environment for business to access to more global and regional markets, a virtual information containing information related trade and its regulations is needed. The establishment of IORA Web Trade Repository could be one of best solution to answer questions related to trade information.
The proposed IORA Web Trade Repository (TR) will give significance impact for contributing to trade facilitation by providing the availability of data to authorities and the public in such a way that supports the proper handling and use of data, while taking into account confidentiality requirements. IORA Web TR will contribute to trade facilitation as one of the priority areas that IORA has. IORA Web TR can be set as a platform that supports IORA member states to enter global businesses, promote international trade, and achieve sustainable and market-led growth.
The project is to establish trade information database by constructing website which will be called as IORA Web Trade Repository (TR). IORA Web TR is an online reference for trade and tariff regimes which is aimed at promoting IORA’s business activities and contributing to trade facilitation. It supports traders and business activities, connects them and provides them with trade facilitation within the region, which is in line with IORA’s policy approach.
IORA Web TR will provide a set of information about Tariff and Regulation related to trade in each country. The website will contain information on:
a) preferential tariff offered;
b) rules of origin applied under Free Trade Agreements and Regional Trade Agreements entered into by IORA members;
c) MFN tariffs;
d) import licensing procedures and other trade measures;
e) regulations related to customs, importation and exportation procedure; and others.