The Royal Government of Bhutan and the Government of Nepal virtually held the 4th Trade Talks on June 20, 2022. The Bhutanese delegation was led by Mr. Sonam Tenzin, Director General, Department of Trade and the Nepalese delegation was led by Dr. Narayan Prasad Regmi, Joint Secretary, Ministry of Industry, Commerce and Supplies.
The meeting finalized the text of the Bilateral Trade Agreement and its Protocol and the draft text on the Rules of Origin. The revised list of goods for concessions was agreed to be updated and shared shortly and both sides agreed to expedite the process and work towards signing of the Agreement within the next three months.
The bilateral trade between the two countries has grown steadily over the last decade with total trade in goods accounting for Nu. 862 million in 2021. This was an increase up from Nu. 398 million in 2020 with Nepal being recorded as Bhutan’s fourth largest export destination. The 3rd Trade Talk meeting was held in Nepal in August 2019.