By Chimwemwe Mangazi:
The International Trade Centre (ITC), an international development agency dedicated to supporting internationalisation of small and medium-sized enterprises (SMEs), has launched an online portal to connect SMEs to global business.
Dubbed Market Access Map, the portal would unveil a new version of online trade analysis tool expected to enhance market transparency and facilitate the analysis of trade-related policy issues.
According to the ITC’s second quarter Market Analysis Tools newsletter, in a single query, exporters can get information on customs tariff, tariff rate quotas, trade regimes and available tariff preferences, trade remedies and regulatory requirements.
“With the emergence of new trade relationships and increasingly complex trade barriers, small businesses are finding it harder to navigate global markets. The new Market Access Map provides MSMEs with the necessary information and analytics to make the right exporting decisions,” reads an article in the Newsletter.
ITC Executive Director, Arancha Gonzáleza, said: “The latest version of Market Access Map is another giant leap in ITC’s effort to ensure transparency in trade through providing free and easily accessible data and trade-related information to small businesses looking to break into new markets.”
The development since has excited local SMEs.
Executive Director of the Chamber for Small and Medium Business Associations, James Chiutsi, said the move would help connecting local business operators to the global market.
“In this information age, the SME Chamber so much appreciated this initiative and will greatly support it. We need information on new business ideas, supply of capital equipment, markets even acquisition of skills,” Chiutsi said.