E4T or E-infrastructure for Trade and Services Development project is aimed at creating a reliable ICT ecosystem that will accelerate Bhutan’s integration into regional and global trade.
Launched yesterday, the $1.48 m project is supported by the Enhanced Integrated Framework (EIF), a multi-donor programme, which supports Least Developed Countries (LDCs) to be more active players in the global trading system.
The EIF National Implementation Unit (NIU) in the Department of Trade will be the main implementing agency for the project.
The project has six components placed under six implementing agencies- the Ministry of Information and Communications, the Tourism Council of Bhutan, the Royal Securities Exchange Board Limited (RSEBL), and the Department of Industry, Policy and Planning Division and the ICT Division of the Ministry of Economic Affairs.
The project components include establishment of a People Data Hub at the Ministry of Information and Communications and a One-stop Information Centre at the Ministry of Economic Affairs, which will host all trade-related data and information.
The three-year project will also see the establishment of Bhutan Commodity Exchange, an independent and self-sustaining entity focusing on matching sellers and buyers by electronic trading system. At the TCB, the project would help would help set up a National System of Tourism Statistics (STS).
The Executive Director of Enhanced Integrated Framework (EIF), Ratnakar Adhikari said the project is a promising opportunity for Bhutan and a potential model for other countries in how to establish a reliable ICT environment for Trade.
He highlighted how important it is for the LDCs to realize the full potential of digital connectivity to achieve greater prosperity and inclusive development. “International trade will increasingly depend on internet-based connectivity, and successful economic development will in part, depend on how well countries adapt to the new environment,” said the EIF Executive Director.
Bhutan became an EIF beneficiary country in September, 2009.
