Bangladesh, Bhutan Eye Broader PTA, Explore FTA Possibility

Bangladesh and Bhutan on Tuesday agreed to strengthen bilateral trade and private-sector cooperation, including by expanding product coverage under the Bangladesh-Bhutan Preferential Trade Agreement (PTA).

The two countries also explored the possibility of negotiating a Free Trade Agreement (FTA), according to the Ministry of Foreign Affairs.

The issues were discussed at the Fourth Foreign Office Consultations (FOC) between Bangladesh and Bhutan held in Dhaka.

Foreign Secretary Asad Alam Siam and Bhutanese Foreign Secretary Pema Lektup Dorji co-chaired the meeting.

The consultations provided an opportunity to review the full range of bilateral relations in a warm and constructive atmosphere. The two sides also exchanged views on regional and multilateral cooperation on matters of mutual interest.

Both sides reaffirmed their longstanding ties of friendship, trust and mutual respect and expressed satisfaction with progress in political relations, trade and investment, connectivity, education, health, culture, tourism, agriculture and people-to-people exchanges.

They agreed to further strengthen high-level political engagement and regular consultations, while emphasising the need to translate existing goodwill into tangible benefits for the people of both countries.

The two sides also reiterated their interest in expanding cooperation in culture, tourism, agriculture, human resource development, academic exchanges, institutional linkages, youth exchanges and sports.

Bangladesh expressed support for Bhutan’s Gelephu Mindfulness City initiative, saying it could contribute to sustainable development, regional connectivity and shared prosperity. Dhaka also expressed interest in exploring mutually beneficial cooperation under the initiative.

Bangladesh reiterated its interest in expediting the operationalisation of the Bhutanese Special Economic Zone in Kurigram.

The two sides also discussed strengthening regional cooperation through 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 sides welcomed the outcome of the fourth FOC and reaffirmed their commitment to deepening the mutually beneficial Bangladesh-Bhutan partnership.

The next FOC will be held in Thimphu at a mutually convenient date and time.