Bangladesh signs first Preferential Trade Agreement (PTA) since independence

Bangladesh has signed its first Preferential Trade Agreement (PTA) with Bhutan. This is the first time that PTA Bangladesh has signed with any country in the world.

The agreement was reached on Sunday between Bangladesh Commerce Minister Tipu Munshi and Bhutanese Finance Minister Leonpo Loknath Sharma in Bangladesh. The agreement was signed in recognition of 50 years of diplomatic relations between the two countries.

In 1971, Bhutan became the first country in the world and then the second, to recognize Bangladesh as an independent country.

Under PTA 100, Bangladeshi products will have duty free access to Bhutan. At the same time, 34 items from Bhutan will get duty free access to Bangladesh. More items can be added to the list later based on the discussion between the two countries.

Items such as hemp and hemp products, baby clothes and accessories, men’s pants, jackets and blazers are among the 100 items from Bangladesh that get duty free access to Bhutan. On the other hand fruit juices, natural honey, wheat flour jams, jellies and limestone, quartzite etc. have duty free access from Bhutan to Bangladesh.