The Ministry of Trade & Industry, which was subsequently renamed as Ministry of Economic Affairs was established in 1967. Initially, known as the Ministry of Trade, Commerce and Industry, it was established as a full-fledged Ministry in 1968 under the reign of the third Druk Gyalpo His Majesty King Jigme Dorji Wangchuck, and renamed as the Ministry of Trade, Industry and Forests. Presently beside the inclusion of the Power & Mining Sector it has been officially designated as the Ministry of Economic Affairs from October 17th 2007. The Ministry of Economic Affairs comprises of eight Departments namely,
Department of Trade,
Department of Industry,
Department of Cottage and Small Industry,
Department of Intellectual Property,
Department of Geology and Mines,
Department of Hydropower and Power Systems,
Department of Renewable Energy and
Office of Consumer Protection
besides the Directorate Services, Policy and Planning Division, and Internal Audit. The Directorate Services is supported by Administration and Finance, Human Resource and Information and Communication Technology. The Ministry also has six Regional Offices in:
To promote a green and self-reliant economy sustained by an IT enabled knowledge society guided by the philosophy of GNH.
To create an enabling environment, including institutions and infrastructure for the sustainable growth of the economy through public & private sector development.