Bangladesh and Bhutan on finalised the terms and conditions for signing a preferential trade agreement (PTA) to increase bilateral trade.
The signing of preferential trade agreements with Nepal, Bhutan and Indonesia has been delayed for months as the economy is battling the global COVID-19 fallout, officials have said.
The new bilateral Trade Agreement aims to enhance trade between the two countries through trade facilitation by improving procedures, cutting down on documentation.
Nepal and Bhutan are holding bilateral trade talks in Bhutanese capital city Thimpu on Tuesday in order to promote bilateral trade between the two landlocked countries in South Asia.
Bangladesh and Bhutan are going to sign a free trade agreement in November with a view to boosting trade between the two countries, informed sources said.
The center of gravity of the world economy was shifting to South Asia but opportunities of this regional dynamism could only be harnessed if the region integrated.
Apart from a few issues that remain to be ironed out the seven-nation Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) regional grouping is all set to implement the Free Trade Agreement (FTA) among the member countries by July 2006 as scheduled.
Bangladesh is hesitant to take any practical move to sign free trade agreement (FTA) as it has been sitting on several proposals from many neighbouring countries that have done so among themselves for their own benefits.