Commerce ministry to update trade portal round the clock

DHAKA, Commerce Ministry today signed a memorandum of understanding (MoU) with 39 government bodies involved in offering trade related services.

The ministry has taken the move to update the trade portal round the clock so anyone could know the update immediately along with other information.

Commerce Ministry's Senior Secretary Md Mofizul Islam signed the MoU with the representatives of the government bodies in a city hotel where Commerce Minister Tipu Munshi was present as chief guest.

Speaking on the occasion, Tipu Munshi said information is very important and essential in the era of free flow of trade. The business friendly portal would introduce a new chapter of trade, he added.

The commerce minister laid emphasis on the regular update of the trade portal. The portal would not be effective without regulator update.

Ministry of Commerce wants to ensure that businessmen and others can get the last update from the trade portal immediately. To this end, a focal point officer would be assigned for the trade portal to ensure the update by communicating with related government bodies.

Bangladesh launched the online trade portal, the first of its kind in South Asia, on March 14, 2016 to serve the business community with onestop point of information for exportimport.

The portal would provide an accessible, logical, helpful window for traders to access important regulatory and procedural information needed to export and import.

It stores information relating to existing trader regulations and procedures, administrative procedures, guidance notes, applicable fees, forms, licenses, permits and penalties applicable in case of breach.

The portal showcases wide variety of contents such as overview of Bangladesh economy, business start up process, import and export guide, custom's terminology, as well as information special economic areas, export processing zones, crossborder trade and GSP automation.

Source: Bangladesh Sangbad Sangstha (BSS)