View from Bangladesh: Boosting Trade Relations with Bhutan

With this PTA, some 100 Bangladeshi items are to get duty free access to the markets in Bhutan while about 34 items from Bhutan will get access to the Bangladeshi market -- with much more room to grow and explore.

Posted on 12/6/20
By Editorial | Via Dhaka Tribune
(image via Dhaka Tribune/Bigstock)
As Bangladesh continues to climb the rungs of the economic ladder, there is greater need now more than ever to be strategic in its approach, and as such, be open to partnerships and agreements with the rest of the world, but especially with nations within the region.

To that end, the first preferential trade agreement (PTA) with Bhutan that was signed on December 6 must be looked at as a landmark moment, for it shows the intent of the government in forming and strengthening alliances to help the Bangladesh economy take the next step towards economic prosperity.

With this PTA, some 100 Bangladeshi items are to get duty free access to the markets in Bhutan while about 34 items from Bhutan will get access to the Bangladeshi market — with much more room to grow and explore.

Indeed, this PTA with Bhutan is fitting, considering the fact that, on December 6, 1971, Bhutan was the first country to officially recognize Bangladesh’s independence, thereby also marking 50 years of diplomatic relations between the two nations.

It can only be assumed that this agreement will provide a significant boost to both nations; it can be argued that Bangladesh has not fully utilized its strong relationship with Bhutan, though recent numbers do show an encouraging upward trajectory regarding the bilateral trade volume between the two countries.

With the signing of this PTA, the volume of bilateral trade should see a significant rise, and this could be the beginning of an even deeper and more meaningful partnership between the two countries.

This editorial first appeared in Dhak Tribune. Click here to go to the original.

Check Also

US Charges India with Plotting to Assassinate Sikh Separatist in New York

The indictment, unsealed by federal prosecutors in New York, accuses the Indian national of orchestrating a meticulously planned plot to eliminate the Sikh separatist figure within the bustling environs of New York City.

Forget ‘Peace,’ Did Abraham Accords Set Stage for Israel-Gaza Conflict?

The Biden administration could have reversed Trump’s efforts, and placed pressure on Israel to halt these plans, as well as end its settlement expansion while making good on its promises and obligations under the peace process. Instead, the president continued Trump’s normalization efforts while breaking from presidential precedent and not even attempting to advance the peace process, all while issuing little to no criticism of the Israeli government’s violations.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Discover more from ViewsWeek

Subscribe now to keep reading and get access to the full archive.

Continue reading