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Bhutan is interested in transforming its current preferential trade agreement (PTA) with Bangladesh into a free trade agreement (FTA) to expand bilateral trade.
Visiting Bhutanese Prime Minister Dasho Tshering Tobgay expressed this interest at a meeting with Bangladeshi Commerce Adviser Sk Bashir Uddin at a hotel in Dhaka today.
Bangladesh signed its only PTA with Bhutan back in 2020.
Today, Tobgay expressed gratitude for allocating a special economic zone for Bhutan in Kurigram, where several activities have already been undertaken, according to a statement from the commerce ministry.
The prime minister also said the Bhutanese government has taken the initiative to develop the Biodiversity City in Gelephu.
This proposed city is being built to preserve Bhutan’s rich biodiversity, where advanced and sustainable infrastructure will be developed in harmony with nature.
Mentioning that a large quantity of construction materials will be required for the development of Gelephu city, he expressed interest in importing these materials from Bangladesh.
He further stated that the Bhutanese government is also interested in importing medicines, ceramic products, readymade garments and electronic items from Bangladesh.
Inviting Bangladeshi tourists to enjoy Bhutan’s natural beauty, the prime minister said that while the Bhutanese government has set a Sustainable Development Fee (SDF) of $100 per night for tourists from most countries, for tourists from Bangladesh and other South Asian countries the fee is only $15.
He also urged the government to take steps to encourage Bangladeshis to take advantage of this opportunity to visit Bhutan.
Bhutan’s bilateral relations with Bangladesh are excellent and increased trade will add a new dimension to the existing relationship between the two countries.
Bangladesh’s commerce adviser also expressed gratitude, recalling that Bhutan was the first country to recognise Bangladesh after its independence in 1971.
Expanding trade with Bhutan would strengthen bilateral relations even further, said Bashir Uddin.
Regarding the signing of the FTA, the adviser said the trade deal would be given due consideration at the upcoming Bangladesh–Bhutan secretary-level meeting.
The commerce adviser also said he emphasised the importance of increased business visits and greater exchange of experience between business communities of the two countries.
He said Bangladesh now produces world-class medicines, ceramic products, readymade garments and construction materials.
He called upon the Bhutanese government to take advantage of the opportunity to increase trade by importing these products.
(TDS)
