USAID Launches US$ 10.2 Million Activity to Strengthen Trade Governance in Timor-Leste

DILI, www.news-viptv.com – The United States through the U.S. Agency for International Development (USAID) and the Timor-Leste Ministry of Finance announced today a new three-year US$ 10.2 million activity to help the Government of Timor-Leste institutionalize a well-governed and modern trade system that is professional, transparent, accountable, efficient, effective, responsive to the Timorese people, and compliant with international standards.

The Activity will boost trade and economic growth, increase government revenue, increase regional and international integration, and strengthen good governance.

“The United States is committed to continue supporting Timor-Leste in implementing a well-governed and modern trade system. USAID values the great cooperation and collaboration with the Ministry of Finance and the Customs Authority, including through the recently completed USAID Customs Reform Project, which delivered an estimated US$ 38 million in savings for Timorese businesses through increased efficiencies.  We look forward to continuing to work with Timor-Leste as it pursues the domestic reforms necessary to fully align its trade regime with World Trade Organization rules and liberalize trade,” said USAID Mission Director Zema Semunegus.

At the request of the Government of Timor-Leste, USAID will work with the Ministry of Finance, Customs Authority, and other government agencies, as well as the private sector, to improve trade governance, trade facilitation, and customs processes. The United States Government is providing $10.2 million under the USAID/Timor-Leste Trade Governance Activity to support Timor-Leste’s Customs Authority and other government agencies that are dealing with trade.