Bangladesh on Sunday signed its maiden Preferential Trade Agreement (PTA) with Bhutan to boost bilateral trade between the two countries.

The signing ceremony was held today to mark the day memorable as on this day in 1971, Bhutan became the first country in the world to recognize Bangladesh’s independence.

Commerce Minister Tipu Munshi and Bhutanese Economic Affairs Minister Lyonpo Loknath Sharma signed the agreement on behalf of their respective sides.

Prime Minister Sheikh Hasina and her Bhutanese counterpart Lotay Tshering witnessed the signing ceremony through video conferencing from Ganabhaban in Dhaka and Thimphu respectively.

The PTA with Bhutan is the first such bilateral preferential trade agreement Bangladesh signed with any country since independence in 1971.

With the signing of these ceremony, some 100 Bangladeshi products will get duty-free access in Bhutan. Meanwhile, 34 Bhutanese products that will get duty-free access to the Bangladeshi market. Both countries will be able to increase the number of items gradually through consultation.

The bilateral trade volume of the two countries is gradually increasing. It was just $26.52 million in the fiscal year 2012-13. The trade volume reached $57.90 million in the fiscal year 2018-19.

BDST: 1329 HRS, DEC 06, 2020
AP/SMS