ECommerce, the online economy and TRADENET is the future

An important study was released this week that will show just how vibrant our e commerce has become over the last four years. An October 4, 2019 Business world report states thus:

“The 2019 e-Conomy report released on Thursday, which Google conducted in partnership with Temasek Holdings Pte. and Bain & Co., said Southeast Asia’s Internet economy shot up almost 40% to break the $100-billion mark this year. Growth was fueled by online travel, e-commerce, online media and ride hailing sectors. “This pace of growth has exceeded all expectations. At this rate, the Southeast Asian Internet economy is on track to hit $300 billion by 2025, topping our initial projection in 2016 by $100 billion,” it said.”

(https://www.bworldonline.com/study-cites-phls-digital-economy-potential/)

As far as the Philippines in concerned, it consist of a mere 2.5% of the southeast asian market but its high growth rate since 2015 ( grown by almost 50%) to a 3 billion dollar industry is high. 

This is fueled by greater connectivity, with the English abilities of Filipinos clearly able to partake of global content such as music and media streaming and the rising popularity of online trade and sale platforms and financial technology products.

The challenge is to expand digital trade to the regions outside Metro Manila. Our local producers should take advantage of these online trading platforms to sell their products to a larger market. Lazada, Shopee and social media have means to sell products.  Its time we put our products there.

TRADENET

In line with this, the government is also creating a new program to facilitate imports and exports to cut the red tape needed for exporters and importers to take advantage of the 100 billion dollar e commerce market.

The Departments of Finance (DOF) and of Information and Communications Technology (DICT) are now working closely with the Department of Agriculture (DA) on the full rollout and development of the government’s online trading facilitation portal dubbed TradeNet. 

This includes the online processing of trade related permits such as the issuance of sanitary and phytosanitary (SPS) certificates in TradeNet., particularly of agricultural products.

The DOF’s Inter-Agency Business Process Interoperability (IABPI) Team, the Bureau of Plant Industry (BPI) will handle the e-Phyto Sanitary certificate, while the Bureau of Animal Industry (BAI) and the Bureau of Fisheries and Aquatic Resources (BFAR) will handle the e-Animal Health certificate. This includes electronic certificates of origin.

This will enable the Philippines to join the ASEAN single window (ASW) this year. A few companies have begun piloting this platform.

TradeNet.gov.ph, will be our National Single Window (NSW), and connect to the ASW, which is a regional initiative that aims to speed up cargo clearances and promote economic integration by enabling the electronic exchange of border documents among the 10 ASEAN member-states.

With TradeNet is fully operational, he said that traders may apply online for import and export permits for commodities such as rice, sugar, used motor vehicles, chemicals (toluene), frozen meat, medicines (for humans, animals, or fish) and cured tobacco. TradeNet will simplify import and export documentary processes covering an initial 7,400 regulated products. 

The administration’s goal is to have all 75 trade regulatory government agencies across 18 government departments fully interconnected via TradeNet.  

This will boost trade and our participation in the global economy. This is a legacy that will help cement our sustained growth.