Bhutan And Bangladesh Can Benefit From Growing Trade Ties

Kathmandu

South Asian neighbors Bangladesh and Bhutan have a harmonious relationship on the strength of their mutual interest, shared history and culture. On December 6, 1971, Bhutan and India became the first countries to recognize the independence of Bangladesh.

Bangladesh-Bhutan ties started to deepen from this period. Bhutan and Bangladesh can work together in the sectors of information and communication technology, agriculture, horticulture and fisheries to enhance trade and investment relations between Bangladesh and Bhutan. Bangladesh and Bhutan have excellent relations in various fields including trade investment, communication, education, cultural exchange, people-to-people contact, tourism.

Bhutan is a loyal, true friend of Bangladesh. The people of Bangladesh are always grateful to the government and people of that country for their unwavering support and cooperation in the war of liberation in 1971. Bilateral relations between Bangladesh and Bhutan are very good. Over time, this relationship is reaching new heights.

Bangladesh and Bhutan signed the ‘Preferential Trade Agreement (PTA)’ on December 06, 2020. This is Bangladesh’s first priority trade agreement or PTA with any other country in the world. As per this agreement of Bangladesh with Bhutan, 100 products of Bangladesh will get duty free facility in Bhutan and 34 products of Bhutan will get duty free facility in Bangladesh. As a result, trade relations between the two countries will increase further.

According to the Export Promotion Bureau of Bangladesh, trade between the two countries in 2018-2019 is 56.90 million US dollars. Bhutan imports vegetables and fruits,