TradeNet platform to cover rice, other goods

MANILA, Philippines — Traders of rice, sugar, and five other commonly traded goods can expect faster processing of their import and export permits by December with the rollout of an online trade facilitation platform initiated by the Department of Finance (DOF).

In a statement, Finance Undersecretary Gil Beltran said the platform, called TradeNet, would initially cover rice, sugar, used motor vehicles, chemicals (toluene), frozen meat medicines, and cured tobacco upon its launch before the end of 2017.

“The initial deployment will allow traders to use the system for the first seven commodities that represent fifty percent of the total trade volume of the Philippines,” Beltran said.

He said 16 agencies involved in the processing of the trade permits of these seven commodities are set to be connected to TradeNet before the rollout.

These include the Bureau of Animal Industry (BAI), National Tobacco Administration (NTA), Fair Trade and Enforcement Bureau (FTEB), National Food Authority (NFA), Bureau of Plant Industry (BPI), Food and Drugs Administration (FDA), National Meat Inspection Service (NMIS), Bureau of Internal Revenue (BIR), and Bureau of Customs (BOC).

He said other goods would also be progressively placed onboard the TradeNet as other regulatory agencies involved in trade facilitation get engaged in the system. Eventually, the facility will connect 66 agencies and 10 economic zones.

According to Beltran, the online facility would allow traders of commodities to apply for their import and export permits online, securing faster and more convenient application process.

Beltran said TradeNet would also perform the functions of the country’s National Single Window (NSW), which would eventually be interconnected to the Association of Southeast Asian Nations (ASEAN) Single Window by December.

The ASEAN Single Window, he said, is a regional initiative that aims to speed up the cargo clearances, and promote economic integration by enabling the electronic exchange of border documents among ASEAN member-states.