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Bangladesh and Bhutan Seek Expanded Trade and Future Free-Trade Agreement

Bangladesh and Bhutan have agreed to enhance bilateral trade and private sector cooperation, potentially leading to a Free Trade Agreement.

By Staff Correspondent
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Bangladesh, Bhutan eye expanded trade, future free-trade pact | News
BSS

Bangladesh and Bhutan have taken significant steps towards expanding their bilateral trade and private-sector cooperation. At the Fourth Foreign Office Consultations (FOC) held in Dhaka, both nations agreed to broaden the scope of their Preferential Trade Agreement (PTA) and explore the possibility of a Free Trade Agreement (FTA). The consultations, co-chaired by Bangladesh Foreign Secretary Asad Alam Siam and his Bhutanese counterpart Pema Lektup Dorji, reviewed the entire spectrum of bilateral relations and exchanged views on regional and multilateral issues of mutual interest.

Strengthening Bilateral Ties

The meeting between Bangladesh and Bhutan was characterized by a warm, cordial, and constructive atmosphere. Both sides reaffirmed the longstanding bonds of friendship, trust, and mutual respect. They expressed satisfaction over the steady progress in bilateral cooperation and agreed to further strengthen high-level political engagements and regular consultations between the two governments. The goal is to translate existing goodwill and political understanding into tangible benefits for the peoples of both countries.

Areas of cooperation discussed included political affairs, trade and investment, connectivity, education, health, culture, tourism, agriculture, and people-to-people exchanges. Both nations reiterated their commitment to expanding cooperation in various sectors such as culture, tourism, agriculture, human resource development, academic collaboration, institutional linkages, youth exchanges, and sports.

Economic and Regional Cooperation

Bangladesh expressed its support and interest in Bhutan's Gelephu Mindfulness City (GMC) initiative, recognizing its potential to contribute to sustainable development, regional connectivity, and shared prosperity. Dhaka also expressed interest in exploring opportunities for mutually beneficial cooperation under this initiative. Additionally, Bangladesh reiterated its commitment to expedite the operationalization of the Bhutanese Special Economic Zone in Kurigram.

The two sides exchanged views on strengthening regional cooperation under the South Asian Association for Regional Cooperation (SAARC) and the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) to promote greater regional integration. Both nations expressed satisfaction with the outcome of the fourth FOC and reaffirmed their commitment to further deepening the close and mutually beneficial partnership between Bangladesh and Bhutan. The next round of Foreign Office Consultations will be held in Thimphu at a mutually convenient date.

Source: BSS

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