Country enters duty-free trade era

Increase ties with other countries

Published : 07 Dec 2020 10:15 PM | Updated : 08 Dec 2020 01:10 AM

Bilateral relations are always important for a nation. Bangladesh has been improving its ties with other countries over the past few years. As a result, the country has been able to avail multiple benefits. In that continuation Bangladesh has recently taken the bilateral relations with Bhutan to new heights. It augurs well to see that a PTA has been signed between the two countries.

According to a report published in this daily, this unique trade deal was signed with Bhutan which will double the trade between Bangladesh and Bhutan in the coming five years. Also, it can be said that the bilateral trade would grow by 15 percent with the PTA.

This shows a truly historic event as this marks the 50 years of Bhutan recognising Bangladesh as a free nation. We hope that the relationship with the country will increase further in the future. There is a robust trade relations already existing between the two countries. This new PTA will surely be beneficial for both nations as a way to prosper together.

 This new PTA will surely be beneficia

 for both nations as a way to 

prosper together

Bangladesh is the 2nd largest export destination of Bhutan and the country’s major import item from Bhutan is bolder stone for its good quality and price. The bilateral trade volume reached $49.65 million in fiscal year (2018-19) out of which Bangladesh’s exports to Bhutan totalled $7.56 million against the imports of $42.09 million.

These numbers have increased greatly in the past decade. Experts believe that country’s exports will get a boost while there will be more employment. As a result, consumption will increase for which there will be more revenue collection due to VAT. There is chance of reaping great economic benefits in the future.

Above all, this shows that Bangladesh is advancing forward. We hope that such forward march will keep happening until the country graduates from the LDC status.