Bhutanese PM expresses interest in free trade agreement with Bangladesh
He noted that Bangladesh is the only country with which Bhutan currently has a preferential trade agreement (PTA).
Bhutanese Prime Minister Dasho Tshering Tobgay, who is currently on an official visit to Bangladesh, met with Bangladesh's Commerce Adviser Sk Bashir Uddin in Dhaka today (22 November).
During the meeting, held at a hotel in the afternoon, the Bhutanese premier said Bhutan is keen to sign a free trade agreement (FTA) with Bangladesh to further expand bilateral trade, reads a press release.
He noted that Bangladesh is the only country with which Bhutan currently has a preferential trade agreement (PTA).
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The two sides discussed ways to strengthen bilateral relations and boost trade and investment.
Tobgay described Bhutan's relationship with Bangladesh as "excellent", adding that enhanced trade will elevate the partnership to new heights.
He expressed gratitude to the Bangladesh government for allocating a special economic zone (SEZ) in Kurigram for Bhutan, noting that several initiatives in the zone are already underway.
The Bhutanese prime minister also highlighted Bhutan's plan to develop the biodiversity city of Gelephu, which aims to preserve the country's rich natural environment while building modern, sustainable infrastructure. He said substantial construction materials will be required for the project and expressed interest in importing them from Bangladesh.
In addition, he said Bhutan is interested in importing pharmaceuticals, ceramic products, ready-made garments, and electronics from Bangladesh.
Inviting Bangladeshi tourists to experience Bhutan's natural beauty, Tobgay said that while international tourists are charged a Sustainable Development Fee (SDF) of $100 per night, the fee is only $15 for visitors from Bangladesh and other South Asian countries. He urged Bangladesh to promote this opportunity to encourage more travellers to Bhutan.
Commerce Adviser Bashir expressed gratitude to Bhutan for being the first country to recognise Bangladesh after independence. He said expanding trade would further strengthen bilateral ties.
On the proposed free trade agreement, the adviser said the matter will be given priority at the upcoming Bangladesh-Bhutan secretary-level meeting. He also stressed the importance of increased business visits and experience-sharing between private sectors of both countries.
Bashir added that Bangladesh now produces world-class pharmaceuticals, ceramics, garments, and construction materials, and encouraged Bhutan to take advantage of opportunities to import these products to expand bilateral trade.
