Trinidad and Tobago is being positioned as a leader in electronic transactions.
This is what the Ministry of Trade and Industry says is behind the launch of the National E-Commerce Strategy.
According to Line Minister Paula Gopee-Scoon, the country’s new National E-Commerce Strategy is expected to drive innovation, empower businesses, enhance consumer access, and ultimately pave the way for a more inclusive, globally competitive economy.
“The Ministry of Trade and Industry has been working collaboratively with the UN Trade and Development to develop the National E-Commerce Strategy, and we did it in twelve months. We have delivered a comprehensive framework designed to position Trinidad and Tobago as a leader in the digital economy.”
This, considering that the World Economic Forum predicts that the global digital economy will grow to US$20 trillion by 2027.
“The vision of the strategy is centred on achieving widespread adoption of e-commerce to enable businesses to extend their access to domestic and foreign markets and improve the efficiency of their sales and purchasing processes, and consumers and the Government increased access to a more diverse range of merchants and products with confidence.”
Minister Gopee-Scoon said the strategy supports cross-border e-commerce and allows for enhanced consumer protection for intellectual property.
“Today, we are not only launching the National E-Commerce Strategy, but we are also moving swiftly ahead with implementation. Next on the agenda, we will install the National E-Commerce Committee formalising this collaboration, co-chaired by the Permanent Secretaries of the Ministry of Trade and Industry and the Ministry of Digital Transformation.”
She said the UN Conference on Trade and Development will conduct e-trade tracker reform training with the members of the committee. It is hoped that with the implementation of the strategy, all consumers, even individuals and small businesses, will be able to conduct electronic business with greater ease and confidence.