Dhaka: A new web portal, ‘Bangladesh Trade Portal’, the first of its kind in South Asia, was officially launched in Dhaka on Sunday to make export and import easier serving the business community with a one stop point of information, according to a UNB report.

Commerce Minister Tofail Ahmed launched the trade portal as the chief guest.

Hosted by the Ministry of Commerce with support from the Trade and Competitiveness Global Bank, Bangladesh Trade Portal is an important step for the government towards improving the predictability and transparency of the country’s trading laws and processes, said a statement distributed among journalists in the launching ceremony held at Sonargaon Hotel.

This is in line with the government’s commitment to facilitate information sharing, the 7^th Five Year plan which focuses on accelerating economic growth, as well as compliance with Article 1 of the Trade Facilitation the World Trade Organisation.

Operable in both Bangla and English, the portal stores information relating to existing trade regulations and procedures, relevant laws, administrative procedures, guidance notes, applicable fees, forms, licenses, permits and penalties applicable in case of breach.

The wide variety of portal’s content includes overview of Bangladesh’s economy, business start the information on special-up process, import and export guide, customs terminology, as well as economic areas, export processing zones, cross-border trade and GSP Automation.

The portal also offers selection of websites of international organisations or institutions that can bring support to and enable exporters to trade desk research and market surveys.

Bangladesh Trade Portal seeks to encourage overseas investors that are interested to trade with Bangladesh and provide them with market and regulatory information to help them export to and import from Bangladesh.

The Commerce Ministry invited the business community, research institutions, community and the public at large to log on to the Bangladesh Trade Portal and make the best use of it.

M Masrur Reaz, Programme Manager, Trade and Competitiveness Global Practice Group, Bangladesh and Abdul Matlub Ahmed, President, FBCCI spoke at the function as special guests.

Senior Commerce Ministry Secretary Hedayetullah Al Mammon presided over the launching event.