Bangladesh, Bhutan clearing bilateral trade barriers

Bangladesh and Bhutan have agreed to work together to reduce tariff and non-tariff barriers to boost bilateral trade as well as investment, power and energy cooperation and tourism. The decisions came at the two-day 9th Commerce Secretary-level meeting between Bangladesh and Bhutan held on April 24 and 25 at Thimpu. Commerce Ministry’s Senior Secretary Tapan Kanti Ghosh led the Bangladesh delegation while the Bhutanese side was led by their Industry, Trade and Employment Secretary Tashi Wangmo. The ambassadors of both countries joined the delegation, according to a handout issued today (April 27). At the outset of the meeting, the commerce secretaries expressed satisfaction at the excellent bilateral relations and hoped that this would deepen in the future. Various issues of mutual interest were discussed. Tapan urged Bhutan to take necessary steps to rejoin the BBIN MVA framework to facilitate trade and commerce by enhancing regional connectivity. Bhutan assured to consider the matter positively. They 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 bilateral trade 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 that, 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 ministers praised 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, and expand 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 of 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.
Published on: 2024-04-27 20:31:44.6035 +0200 CEST