The Royal Monetary Authority (RMA) jointly with the Ministry of Economic Affairs (MoEA) and the Ministry of Finance (MoF) have launched the Bhutan Trade FinNet (BTFN) System- Phase 1- Import by Wholesalers from Countries other than India (COTI) on 12 December 2022. The BTFN System is a web-based integrated platform that brings together the RMA, MoEA, MoF and the Banks to monitor, measure and cross-verify the international trade transactions of both goods and services.

With the launch of this module, all Clearing & Forwarding Agents and wholesalers importing from COTI can register in the BTFN system at starting from 12 December 2022. The DoT will be processing import licenses for wholesalers from COTI using the BTFN system with effect from 17 December 2022 coinciding with the 115th National Day. The system will be rolled out in phased manner, with the other remaining modules on import and export from/to India, import of industrial raw materials, the issuance of certificate of origin for exporters to COTI , and services related transactions are scheduled for launch at a later date.

The manual processing of the import license will also be available until such time that the system users are well versed with the BTFN and the Ministry notifies on the non-acceptance of manual applications.

For enquiry and further clarification, please contact following officials during office hours:

  1. Mr. Lobzang, Department of Trade, Ministry of Economic Affairs (02 328334/ 02 325588/322407-Ext 120/121)
  2. Mr. Yeshey Dorji, Department of Foreign Exchange & Reserve Management, Royal Monetary Authority (02-323111(Ext-225)
  3. Mr. Tashi Gyeltshen, Department of Macroeconomic Research & Statistics, Royal Monetary Authority (02-323111(Ext 218))