VIENTIANE, Aug. 31 (Xinhua) -- An online trade website focusing on Lao goods has been launched to facilitate online and offline businesses as well as improve the Southeast Asian nation's investment climate, the state-run daily Vientiane Times reported Thursday.
The website was created via a loan of 562,000 U.S. dollars from the Asian Development Bank (ADB) as part of government efforts to promote small-and-medium-sized enterprises (SMEs) in Laos alongside the theme of "Enhance SME Access to Asian Market through E-commerce Platform."
The e-commerce portal is in Lao and English and provides information about products and producers. Information on trade agreements, workshops on business and other important activities are also available on the website.
Speaking at the opening ceremony on Wednesday, Lao Deputy Minister of Industry and Commerce Bounmy Manivong said the website would be a trading platform for entrepreneurs in Laos to introduce their products to the wider markets of the Association of Southeast Asian Nations (ASEAN) and its trading partners.
"I believe that this e-commerce platform will provide more opportunities and environment for SMEs to access domestic and international markets. I am confident that the website will be a promotional channel for Lao businesses and they will learn more about the benefits of Free Trade Agreements (FTAs)," the deputy minister said.
The government also aims to create opportunities for Lao enterprises to present their products to the markets of ASEAN and its partners and beyond.
"This is the first step to increase Lao SMEs' understanding of how FTAs are relevant to them and also helps companies to find business partners and connect with other buyers and sellers," Bounmy said.
As of the end of Wednesday, as many as 82 companies had registered with the portal for online trading purposes with a range of more than 300 products and services.
