ADB helps finance high-tech systems in Maldives to boost trade

The Asian Development Bank has approved a financial package totaling $11 million to bring in a single electronic platform in Maldives to improve the speed and efficiency of cross-border control procedures employing the latest in high-tech systems. 

The flow of trade in Maldives is hampered by various bottlenecks that cause delays and increase the costs of doing business for traders. 

These include a reliance on paper-based processing, overlapping and redundant document requirements, lengthy cargo procedures including limited screening capability, and underutilization of information and communications technology (ICT) systems. 

ADB Senior Economist Masato Nakane said: "The project will establish a national single window that can reduce delays and lower costs associated with the clearance of goods, while maintaining the needed controls over fees and duties on imports or exports.

"The project will improve the trade environment of Maldives and help expand trade with major trading partners such as India and Sri Lanka.”