The Government of the Republic of Trinidad and Tobago, in recognizing the importance and potential of e-commerce to the sustained economic growth of the economy developed the National E-Commerce Strategy. The Strategy outlines the Government’s framework for the development of e-commerce in Trinidad and Tobago over the next three (3) years.
It is the Government’s role to ensure that businesses and consumers have the necessary tools and resources to derive tangible benefits from e-commerce, as well as frameworks that foster business and consumer confidence in the establishment of a larger digital economy.
The principal objective of the E-Commerce Strategy is to create an enabling environment that facilitates and promotes e-commerce for local businesses to serve domestic, regional and international consumer markets.
- Increased private sector participation in e-commerce.
- Increased consumer awareness and confidence in e-commerce.
- Encourages Micro Small and Medium Enterprises (MSME’s) start ups
- Access to wider markets
- Employment creation
- Revenue generation
- Business opportunities to all
- 24 hour access to virtual store fronts
- Low barriers to entry for businesses
In response to the needs of our stakeholders the Ministry of Trade and Industry (MTI) will provide:
1. Training Sessions
A series of one (1) day training sessions is being held by the Ministry of Trade and Industry in collaboration with exporTT Limited and will focus on the following:
“How to go Online?”
“How to Market your Good and Service Online?”
These sessions will be at no cost and commenced in September 2019.
2. Government Financing for E-Commerce
A company shall receive financial support from exporTT Limited for first time website development and/or upgrades to existing websites for current/ potential exporters. This is based on the condition that the company will be reimbursed for a portion of the pre-approved cost or expense incurred by the company.
- The Facility will allow for the reimbursement of 50% of the cost incurred by the company and will be capped at a maximum reimbursable value of TT $35,000.
- This co-financing service is geared specifically towards micro, small and medium enterprises (MSMEs).
- The product must be manufactured locally.
- The company must be locally owned and registered for a minimum of two (2) years.
- Companies must submit their last three (3) export invoices (e.g. associated bills of lading and/or airway bills) to qualify for this type of co-financing. For companies that are not yet exporting, at least two (2) requests for product/service from verifiable and credible interested parties in foreign countries must be submitted.
- Companies requiring access to the service must provide a minimum of three (3) proposals from service providers to ensure a transparent procurement process. Clear justification for the selection of the website developer must be provided.