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Key Points

Bhutan and Bangladesh are exploring a significant boost to their economic partnership. The leaders discussed linking their special economic zones to facilitate investment and trade. Beyond economics, they talked about cooperation in energy, technology, and even religious tourism. This meeting signals a strong intent to deepen ties across multiple sectors.

Key Points: Bhutan PM Tobgay Proposes Free Trade Agreement with Bangladesh

  • Leaders discussed connecting Bhutan's Gelephu Mindfulness City with Bangladesh's Kurigram economic zone
  • Proposal includes sharing Bhutan's hydroelectric power and attracting Bangladeshi pharma investment
  • Talks also covered enhancing religious tourism and fibre optic connectivity between nations
  • The meeting addressed the Rohingya crisis, with Bhutan agreeing to join a UN session
2 min read

Bhutan, Bangladesh express interest in signing Free Trade Agreement

Bhutan's PM Tshering Tobgay and Bangladesh's Muhammad Yunus discuss a new FTA, linking economic zones, and boosting trade at the UN General Assembly.

"Bangladesh and Bhutan can take their bilateral relations to a new level through improved connectivity, trade and investment. - Professor Muhammad Yunus"

New York, September 27

Bhutan's Prime Minister Tshering Tobgay and Bangladesh's Chief Advisor Muhammad Yunus met on the sidelines of the United Nations General Assembly, where the two leaders discussed interest in signing a free trade agreement (FTA), connecting Bhutan and Bangladesh.

The leaders who met on Friday (local time) also discussed connecting Bhutan and Bangladesh's special economic zones, among other wide-ranging discussions.

The details were shared by Muhammad Yunus in a post on his X platform.

"The Prime Minister of Bhutan, Tshering Tobgay, has expressed strong interest in signing a Free Trade Agreement (FTA) with Bangladesh and linking the two countries' economic zones to boost trade and investment. Prime Minister Tobgay made the proposal during a meeting with Chief Adviser Professor Muhammad Yunus at the United Nations headquarters in New York on the sidelines of the 80th UN General Assembly," Yunus said.

During the talks, Tobgay said that both countries could greatly benefit if Bhutan's Special Economic Zone, Gelephu Mindfulness City (GMC), is connected with the Special Economic Zone in Kurigram that Bangladesh has officially allocated for Bhutanese investors.

Chief Adviser Professor Yunus welcomed the proposals, stressing that both countries should explore all avenues to expand trade and investment. "Bangladesh and Bhutan can take their bilateral relations to a new level through improved connectivity, trade and investment," Professor Yunus said, as per the statement shared on his X handle.

Significantly, Bhutanese PM Tobgay also highlighted the country's plans to promote religious tourism, noting that Buddhist monks from Bangladesh spread the faith in their country. He further said Bhutan is eager to share its hydroelectric potential and is ready to welcome investment from Bangladesh's pharmaceutical companies. He also sought Bangladesh's support to set up fibre optic connectivity in Bhutan, the statement highlighted.

"The two leaders also discussed the Rohingya crisis. The Bhutanese Prime Minister confirmed that Bhutan would join the upcoming UN-organized plenary session on the Rohingya issue in New York on September 30", the statement said.

It further noted that Chief Adviser Professor Yunus invited Prime Minister Tobgay to visit Bangladesh. The Bhutanese leader accepted, suggesting he might undertake the visit before Bangladesh's planned general elections in February next year.

https://x.com/ChiefAdviserGoB/status/1971783377964433409

Upon his meeting with Muhammad Yunus, the Bhutanese PM in a post on X said that the two explored ways to deepen their cooperation.

- ANI

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Reader Comments

P
Priya S
Great initiative! The religious tourism aspect is particularly interesting. Many Indian Buddhists would love to visit Bhutan via Bangladesh if connectivity improves. Regional cooperation is the way forward for South Asia's development.
R
Rohit P
While this is positive, I hope the FTA doesn't negatively impact Indian businesses in the region. Our government should ensure that such agreements don't create trade diversion away from India. Strategic thinking is needed.
S
Sarah B
The hydroelectric cooperation is smart! Bangladesh needs energy, Bhutan has surplus. This could be a model for other SAARC nations. Hope they include environmental safeguards in the agreement.
V
Vikram M
Good to see Bhutan engaging more with neighbors. The fiber optic connectivity part is crucial - better digital infrastructure will benefit the entire region. Maybe India can help facilitate this connectivity. 👍
K
Kavya N
As an Indian businesswoman, I see opportunities here. If Bangladesh pharmaceutical companies invest in Bhutan, it might create new supply chain routes that Indian companies can also benefit from. Regional economic integration is welcome!
M
Michael C
Interesting development. The mindfulness city concept in Bhutan combined with Bangladesh's economic zones could create unique tourism products. Hope they consider sustainable tourism practices that preserve Bhutan's unique culture.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

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