Bhutan will be exporting 16 additional Bhutanese products to Bangladesh once Bhutan signs a Preferential Trade Agreement with Bangladesh. According to Economic Affairs Minister Loknath Sharma, both the governments approved the agreement and will be signed next month.
“Both the country has approved the draft text and now the draft text has to be finalised. The protocol is to be finalised with a meeting between commerce secretary levels. So this is what we are pursuing now and we have already requested Bangladesh to expedite. They are also very keen. So we are looking forward to the secretary meeting and finalise the formalities,” Lyonpo said.
Bhutan will now export products like milk, natural honey, mineral waters, wooden furniture and many more. He says the agreement will ensure duty-free access to all the products. Today, Bhutan exports 18 agricultural and mineral products to Bangladesh under a special bilateral agreement.
“We will find an alternative market in Bangladesh. With this 16 plus 18, the 34 products which are exportable and which are exported are covered. Therefore we always find a market in Bangladesh, India and then to other places. Also, this is preferential trade agreement meaning, these products are preferred. So the duties are not levied by Bangladesh and we also don’t levy accordingly. So the trade between the two countries will increase,” Lyonpo added.
Bhutan exported goods worth about Nu 6bn to Bangladesh last year. More than 100 Bangladeshi-origin goods are eligible for preferential treatment under the agreement. The products largely include garments, tea and juices.
Sangay Chezom
