Bangladesh, Bhutan agree to remove bilateral trade barriers

Bangladesh and Bhutan have agreed on forging mutual cooperation in reducing tariff and non-tariff barriers to boost bilateral trade alongside increasing export facilities, investment, transit, communication, power and energy cooperation, tourism and to address the existing challenges at customs and land ports.

The decisions came at the two-day 9th commerce secretary level meeting between Bangladesh and Bhutan held on 24 and 25 April at Bhutanese capital Thimpu.

The Bangladesh delegation was led by Commerce Ministry Senior Secretary Tapan Kanti Ghosh while the Bhutanese delegation was led by Bhutan's Industry, Trade and Employment Secretary Tashi Wangmo.
 
The ambassadors of both the countries joined the delegation consisting of the representatives of the respective ministries of both the countries, said a press release.

At the very outset of the meeting, the commerce secretaries of both the countries expressed satisfaction over the existing excellent relations between the two countries and expressed the hope that this would continue in the future.

Various issues of mutual interests were discussed in the meeting. Tapan urged Bhutan to take necessary steps to rejoin the BBIN MVA framework with a view to facilitating trade and commerce by enhancing regional connectivity with neighboring countries. In response, Bhutan assured to consider the matter positively.

The 9th commerce secretary level meeting also discussed various relevant issues to further strengthen Bangladesh-Bhutan trade and economic cooperation.

Both the commerce secretaries expressed satisfaction over the significant increase in the volume of trade between the two countries as a result of the execution of the Preferential Trade Agreement (PTA) and both sides agreed to include additional products under the existing Bangladesh-Bhutan PTA.
 
Bangladesh and Bhutan also agreed to conduct a trial run on exports and imports to implement the Traffic in Transit Agreement and its Protocols.

Both sides have agreed to sign a Customs Mutual Assistance Agreement (CMAA) in the shortest possible time to exchange information and reports related to Customs of Bangladesh and Bhutan and to enhance mutual experience and cooperation in capacity building of customs officials of both countries.

Tashi Wangmo, head of the Bhutanese delegation, noted that Bhutan has always closely followed Bangladesh's industrial and commercial prosperity and socio-economic development.

He said, as a friendly nation, Bhutan has always supported and cooperated with Bangladesh in various regional and international forums and also for the sake of global peace and prosperity.

Meanwhile, on the sidelines of the secretary-level meeting, the senior commerce secretary met with Bhutanese Industry, Commerce and Employment Minister Namgyal Dorgi and Bhutanese Minister for Foreign Affairs and External Trade DN Dhungyel.

Both the ministers praised highly about Prime Minister Sheikh Hasina's dynamic leadership for achieving unprecedented progress in the socio-economic development of Bangladesh over the last 15 years.

The Bhutanese ministers agreed to take necessary initiatives to enhance mutual trade between the two countries, enhance regional connectivity, expanding cooperation in tourism and power and energy sectors.

The Bhutanese Minister for Foreign Affairs and External Trade DN Dhungyel said that the issue of re-inclusion of Bhutan as a full member in BBIN-MV is under consideration while related activities are ongoing.

Besides, the senior secretary of the Ministry of Commerce held a meeting with various importer-exporters, traders and members of trade associations in Bhutan.