COMESA to implement Virtual Trade Facilitation System

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COMESA to implement Virtual Trade Facilitation System
Common Market for Eastern and Southern Africa (COMESA) Secretariat said it is to implement a pilot project on a Virtual Trade Facilitation System in the Djibouti Corridor. Opening a COMESA Trade Facilitation (TF) workshop In Addis Ababa on Saturday 22nd of September 2012, Finance and Economic Development State Minister Ahmed Shide said the project helps enhance regional competitiveness, expand trade, coordinate activities and exchange information. He said the system enables tracking of cargo, monitoring and controlling the movement of goods while at the same time ensuring transparency, efficiency, cost effectiveness and time management. According to him, the project plays a significant role in reducing transport time and costs for local, cross-border and transit traffic and trade along the Djibouti corridor. The State Minister said the pilot project would create a conducive environment for the smooth flow of trade transaction between COMESA member states and the rest of the world. Ahmed said Ethiopia is striving to boost infrastructure development, facilitate trade and reduce import-export costs of doing business as part of the Growth and Transformation Plan (GTP). He said the government is exerting the utmost effort to FT through development of road, ICT and railway infrastructures taking in to account weak physical and institutional systems as key obstacles to intra-African trade and investment.
(ENA)