The Preferential Trade Agreement (PTA) between the Royal Government of Bhutan and the Government of People’s Republic of Bangladesh was signed on 6th December, 2020 coinciding with the launch of the event to mark the 50th Anniversary of Bhutan’s recognition of Bangladesh. The agreement was signed virtually by Tengye Lyonpo and Commerce Minister of Bangladesh, in presence of H.E. Sheikh Hasina, Hon’ble Prime Minister of Bangladesh, and H.E. Dr. Lotay Tshering, Hon’ble Prime Minister of Bhutan.
The PTA aims to establish a preferential trading arrangement, explore all appropriate measures to facilitate and promote bilateral trade. The PTA is expected to build upon the existing friendly relations and strengthen the mutual cooperation in the field of trade and commerce between the two countries.
With the signing of the PTA, 16 more products from Bhutan will enjoy duty free access to Bangladesh, in addition to the existing 18 products. Likewise, 10 more products from Bangladesh will enjoy duty free access to Bhutan in addition to the existing 90 products.
At the event, the logo for the 50th Anniversary of Bhutan’s recognition of Bangladesh was also launched by the two Hon’ble Prime Ministers.
The signing of the PTA and virtual launch of the 50th friendship anniversary celebrations was attended by the Minister of Foreign Affairs, Commerce Secretary, Foreign Secretary and representative of Chamber of Commerce in Bangladesh. From the RGoB, the event was attended by the Foreign Minister, Foreign Secretary, Secretary of Economic Affairs, former Ambassadors of Bhutan to Bangladesh, other senior officials and representative of Bhutan Chamber of Commerce and Industry.