PTA with Bhutan to boost bilateral trade: Tipu Munshi

The preferential trade agreement (PTA) signed between Bangladesh and Bhutan has opened new windows for boosting bilateral trade between the two countries, Commerce Minister Tipu Munshi said on Thursday.

The commerce minister said Bangladesh and Bhutan signed the PTA on December 6, 2020, to ensure free trade facilities between the two countries.

In light of the agreement, 34 products of Bhutan are getting duty-free benefits in the Bangladesh market and 100 products of Bangladesh are getting the same advantages in the Bhutan market, the minister said.

Tipu Munshi said this when a nine-member delegation of Bhutan led by its Secretary of the Ministry of External Affairs Dasho Karma Tshering met him at his ministry office at the secretariat in Dhaka.

He said that the launching of road communication with Bhutan via a third country would also boost bilateral trade, commerce and tourism.

Earlier, the Bhutanese delegation came to Dhaka to attend the 8th Bangladesh-Bhutan secretary-level meeting.

With a view to building airway connectivity, Bangladesh has announced Saidpur Airport as a regional one and undertook steps to complete the necessary development work, he said.

The trade and communications between the two countries will increase through the Saidpur Airport, Banglabandha and Burimari land ports. And the direct communications will be beneficial for both the countries, he added.

Claiming that Bangladesh has a quality education system in chartered accounting, Tipu Munshi said Bhutan can take the opportunities for their students.

The commerce minister recalled the contribution of Bhutan during Bangladesh’s Liberation War in 1971 and said, “Bhutan is our bosom friend. It recognised Bangladesh as an independent and sovereign country. We commemorate the contributions with utmost gratitude all the time.”

BSS Adds: Earlier on Wednesday, the secretary-level meeting ended in the capital with a set of decisions, including finalising transit agreement and protocol in a bid to strengthen implementation of the PTA signed between the two countries.

Senior Secretary of the Ministry of Commerce Tapan Kanti Ghosh led the 20-member Bangladesh delegation while Secretary of the Ministry of External Affairs of Bhutan Dasho Karma Tshering led the nine-member Bhutanese delegation during the two-day parley.

The other decisions made in the meeting were simplifying communication through a 3rd country as well as taking initiatives for simplifying trade and commerce, boosting mutual cooperation to flourish tourism industry, enhancing mutual cooperation between Bangladesh Standards and Testing Institution (BSTI) and Bhutan Standard Bureau (BSB), Department of Agriculture Extension (DAE) and Bhutan Agriculture and Food Regulatory Authority.

The other major decisions made in the meeting were boosting mutual cooperation to remove tariff and non-tariff barriers in trade and importing stones from Bhutan through Sonarhat Land Port alongside transporting Bhutanese products.

Under the signed PTA, Bangladesh will get duty-free access of some 100 Bangladeshi products to Bhutanese market while on the other hand Bhutan would get duty-free access of 34 of their products to Bangladesh market.

The next secretary-level meeting between Bangladesh and Bhutan would be held in Bhutan.