This is a port of Commerce’s “Countries” management interface to Portal.
The Countries portlet allows administrators to use the UI to add, edit, delete, activate/deactivate, and order countries/regions. Portal currently does not provide a UI or API for managing countries or regions. Porting Commerce's management interface will bridge this gap.
Additionally, there are several Commerce-specific options (e.g. Billing Allowed, enabling Channel Filters, etc). Third-party (non-portal) application like Commerce will provide these capabilities via an extendible SPI (Commerce extension being available OOTB).
Update: The Commerce-specific fields were added directly to the Country table.