Trade Information Portal (TIP) launched

The Department of Trade (DoT) under the Ministry of Economic Affairs (MoEA) in collaboration with the International Trade Center (ITC) and the European Union (EU) launched the Trade Information Portal (TIP) on 9th November in the presence of the Economic Affairs Minister Loknath Sharma, Ugo Astuto, Ambassador of the EU to India and Bhutan and the Executive Director of the ITC, Dorothy Tembo.

The portal is aimed at leveraging business models by bringing in information at a one-stop electronic platform.

Lyonpo said that this will enable Bhutanese private sector to get all trade related information for export, without having to look into different books, laws, sites, or having to contact different offices for information and services.

Lyonpo added, “The electronic platform brings together all trade related information including price and latest global trends for the conduct of trade and therefore I am confident that this will have clarity, transparency and fast information to people who would like to do business with Bhutan, as well as for Bhutanese traders who would like to send their products outside.”

 Lyonpo said, “It has been quite some time since the government had recognized the need to have a system such as TIP, to complement government’s effort in promotion and development of both domestic and international trade.”

Lyonpo added that more than the launch of the portal itself, the engagement of stakeholder using the system is of greater importance for the portal to succeed in its practical purpose.

Lyonpo addressed to the esteemed participants that the lack of transparency and predictability of domestic trade regulation has always been one of the major obstacles.

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