76 agencies set to connect to TradeNet

MANILA, Philippines — The Department of Finance (DOF) expects 76 trade regulatory agencies to be fully connected to TradeNet by 2022, enabling them to streamline the application of import and export permits for various products, according to a senior finance official.

In an interview, Finance Undersecretary and chief economist Gil Beltran said the government is targeting to have 76 regulatory agencies across 18 departments to be linked to the TradeNet platform.

He said all these agencies should be connected to the system by 2022, otherwise their privilege to access the platform may be removed.

“By 2022, they should all be connected, or that agency will be removed from the list of regulators because NEDA (National Economic and Development Authority) is reviewing the list,” Beltran told reporters.

TradeNet was established to enable traders to apply for their permits online, and allow regulatory agencies to receive applications and send feedback in real-time.

The platform is seen to minimize the cost of doing business and cut the processing time for the issuance of import and export permits.

It is also intended to serve as the Philippines’ link to the ASEAN Single Window. This regional initiative seeks to speed up cargo clearances and promote economic integration by enabling the electronic exchange of border documents among Southeast Asian countries.

According to Beltran, one agency, namely the Philippine Drug Enforcement Agency, is already using TradeNet to process the importation and exportation permits of various chemical companies.

He said at least another five agencies should be added before the end of the year.