Swazi Observer

FULL STORY

TRADE PORTAL TO SIMPLIFY TRADE PROCESSES FOR SMES

By Bahle Gama | 2020-03-05

The Small Enterprise Development Company (SEDCO) believes that the Eswatini Trade Information Portal (ETIP) will reduce opportunity cost of time and simplify the process for small and medium enterprises (SMEs).

The Eswatini Trade Information Portal was launched by the ministry of commerce, industry and trade last Thursday at the Hilton Garden Inn.

SEDCO Senior Manager Strategy and Organisational Performance Themba Dlamini said currently SMEs had to visit multiple government’s offices and agencies for documentation requirements to trade, hence the portal would play a vital role in that aspect.

He said they welcomed the establishment of the trade portal and applauded the ministry for the initiative.

“As SEDCO we look forward to engage the SMEs on how they can take advantage of the portal to enhance the movement of their merchandise.

For our economy to grow we need to increase the proportion of SMEs that export to outside lucrative markets. Currently, the proportion of SMEs that export is very small compared to large firms,” he said.

He further stated that the portal would provide readily available, transparent and reliable information on procedures on trade and that SEDCO believed this would reduce compliance costs, provide an authoritative point of reference to guide and support trade facilitation for SMEs and business at large.

“We are hopeful that the portal will have market access tools which will assist in reducing delays in trade. Barriers to trade are a key factor that discourages SMEs from venturing in export trade.

Our county has set itself the goal of being an export driven economy and such a portal will greatly assist in achieving that goal.

“It will also be beneficial to SMEs who wish to import and export goods or merchandise across borders, as most SMEs face unique challenges inherent with their being small in size when they look to export to international markets.

“Key to those challenges is information asymmetry which then dampens their competitiveness in external markets,” he added.

share story