Bangladesh, Bhutan Sign the Preferential Trade Agreement

6 December 2020

The governments of Bangladesh and Bhutan have signed a preferential trade agreement (PTA) on 6 December 2020. The PTA aims to further facilitate and promote bilateral trade between the two countries. Bangladesh Prime Minister Sheikh Hasina and Bhutan Prime Minister Lotay Tshering witnessed the signing virtually. Mr. Tipu Munshi, Commerce Minister of the Government of Bangladesh, and Mr. Loknath Sharma, Economic Affairs Minister of the Government of Bhutan, signed the agreement on behalf of Bangladesh and Bhutan, respectively.

Features of the proposed Bangladesh-Bhutan PTA include (i) duty-free access in Bangladesh for 16 more products from Bhutan, including milk, natural honey, wheat, jams, fruit jellies, marmalades, and mineral water and carbonated water. This is in addition to the 18 products already receiving duty-free access in Bangladesh; and (ii) duty-free access in Bhutan for 100 products from Bangladesh, including garments, processed agricultural goods and electronics.

In a report by Kuensel, Prime Minister Tshering lauded the immense support Bangladesh has always extended to Bhutan. He added that the memorandum of understanding on the use of inland waterways and riverine routes signed between the two countries during Prime Minister Hasina’s visit to Bhutan and the standard operating procedure he signed during his visit to Dhaka paved the way for promotion of trade routes. He expressed hope that the signing of the PTA catalyzes completion of the rest of the formalities. He also expressed gratitude for Bangladesh’s support in the establishment of the third international Internet gateway for Bhutan, which will ensure reliability and affordability of Bhutan’s internet and communications.

 

Related links:

Press Release by the Ministry of Economic Affairs of the Government of Bhutan

Bhutan signs preferential trade agreement with Bangladesh

Bangladesh signs Preferential Trade Agreement with Bhutan

Bangladesh signs preferential trade agreement with Bhutan

The Government of India has agreed to sell an additional 100 megawatt of electricity to Nepal, according to...

Read More


The Governments of Bangladesh and India held their Foreign Office Consultations on 29 January 2021 in New Delhi,...

Read More


The 19th Joint Steering Committee (JSC) meeting on Bangladesh-India cooperation in the power sector held on 23 January...

Read More


The Sixth Meeting of the India-Nepal Joint Commission discussed several areas of cooperation between India and Nepal. Matters...

Read More


Mr. Tipu Munshi, Minister of Commerce of the Government of Bangladesh, called for more discussions between Bangladesh and...

Read More


The coronavirus disease (COVID-19) pandemic has opened up opportunities for India and Sri Lanka to work even more...

Read More


The Government of Nepal and the Asian Development Bank (ADB) have signed a loan agreement for the South...

Read More