The United Nations Conference on Trade and Development (UNCTAD) estimates that worldwide e-commerce sales account for about US$200 billion annually, with more than 380 million consumers making daily online purchases.
TT businesses are now one step closer to making full use of online sales opportunities after the launch of a national e-Commerce strategy on Wednesday at the Trade Ministry, Nicholas Tower, Port of Spain.
Trade Minister Paula Gopee-Scoon said, “Increased usage and utilisation of the internet not only provides an opportunity for the country to diversify the economy and promote innovation and entrepreneurship; it encourages cost savings, increased efficiency and can assist manufacturers and service providers in offering niche products and services to the local and global markets, which they might have otherwise have difficulty accessing.”
Through the implementation of this strategy, Gopee-Scoon said Government “will aggressively seek to capitalise on the growth and development of e-commerce because it has the potential to expands exports, increase foreign exchange earnings and create more sustainable jobs.”
While e-commerce has to be driven by the private sector, the minister said Government’s role is to ensure businesses and consumers are afforded the necessary resources to derive tangible benefits from e-commerce.
During the implementation phase, the Trade Ministry will work closely with designated ministries to ensure the accomplishment of associated milestones in a timely manner.