Tanzania Trade Development Authority (TanTrade) was established by Parliament Act No. 4 of 2009 and commenced on September 3, 2010 (GN No 338). Her establishment followed a repeal of the Act of Parliament No. 15 of 1973 that established the Board of Internal Trade (BIT) and the Act of Parliament No. 5 of 1978 that established the Board of External Trade (BET). It is a statutory organ vested with regulatory, executive, advisory and consultative power of developing and promoting both internal and external trade in Tanzania.