Bangladesh has signed its first Preferential Trade Agreement (PTA) with Bhutan, which will allow duty-free access to a range of goods between the two countries and hence boost bilateral trade between them. Under the PTA, 100 Bangladeshi products will get duty free access to Bhutan, while 34 items from Bhutan will get duty free access into Bangladesh. Further items can be added in the list later on the basis of discussion between the two countries.
This is the first PTA signed by Bangladesh with any country in the world since its independence in 1971. The PTA was signed on 6th December 2020, to mark 50th anniversary of diplomatic relations between Bangladesh and Bhutan. In 1971, Bhutan was the first country in the world to recognise Bangladesh as an independent country.
Important takeaways for all competitive exams:
- Prime Minister of Bangladesh: Sheikh Hasina; Capital: Dhaka; Currency: Taka.
- Bhutan Capital: Thimphu.
- Bhutan Currency: Bhutanese ngultrum.
- Bhutan Prime Minister: Lotay Tshering.