THE BUSINESS OF INTERNATIONAL TRADE
The World Trade Organization has launched a new import licensing platform which contains information on all WTO Members, including details of legislation, procedures and product information relating to import licenses.
Announcing the launch on October 8th, WTO Deputy Director General Yi Xiaozhun explained that "Transparency makes trade more inclusive and predictable. Enhanced efficiency, achieved through easy access to information, further reduces trade costs of both exporters and importers. I fully believe that the new WTO import licensing database will significantly improve transparency in this important field and will benefit all members, especially those developing members who have capacity and resource constraints, as well as SMEs and MSMEs".
The new platform is designed with a user friendly interface, with the aim of providing businesses and WTO members easier access to important information relating to import licensing.
The platform has also been created to help promote compliance among WTO members, with an increased focus on transparency.
Businesses can access the new platform by going to importlicensing.wto.org
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