Minister for Commerce Tipu Munshi urged businesses of Bangladesh and Bhutan to play a pioneering role in expanding trade and commerce between the countries to utilize the advantages of the Preferential Trade and Transit Agreements signed earlier.
Minister Tipu said this while addressing at the inaugural ceremony of three-day ‘The Bhutan Trade & Investment Fair 2023' at the Shooting Club in Gulshan-1 in Dhaka on Friday, as the chief guest.
He said Bangladesh inked the Preferential Trade Agreement (PTA) with its counterpart Bhutan to promote and expand bilateral trade on December 6 in 2020 and the ‘Traffic-In-Transit Agreement' on March 22 this year.
The businesspeople from the both countries can enrich their mutual relations along with expanding trade and commerce by utilizing the advantages of the agreements, he said.
He also underscored the need for a regional consolidation to accelerate economic activities including expansion of trade, commerce and investment.
The commerce minister said that mutual confidence and belief will have to be built to increase regional consolidation, connectivity and intra-regional trade among the neighbouring countries.
PIDUrging Bhutanese investors for more investment in Bangladesh, Tipu Munshi said an opportunity was given to Bhutan to set up an economic zone in Kurigram along their border.
Moreover, India, Japan and South Korea have already given economic zones for investment, he said, adding that Prime Minister Sheikh Hasina established 100 economic zones and most of them have been operated.
Claiming Bangladesh as the connectivity hub for this region, the minister said rail communication and transit facility along with the use of Saidpur International Airport and two ports can remarkably play a role in economic growth and development of Bhutan.
Heads of resident missions or embassies, chairpersons of businesses, executives of apex business bodies and other important personalities were present during the inaugural ceremony.
Sonam Tenzin, director general at trade department of the Bhutan government, delivered a statement on trade and investment and Kinlay Tshering, director at marketing and cooperatives department of the country, made a brief presentation on priority investment opportunities in agri-food systems in Bhutan.
Around 25 companies from Bhutan are participating in the fair being held with the theme “Bridging the Gap Between Investors, Producers, Traders and Consumers for Made in Bhutan & Grown in Bhutan.”
There will be showcasing a wide range of products which are of premium quality due to Bhutan's organic and natural methods of production.
On the sidelines of the fair, seminars on investment opportunities in Bhutan and agri-food systems in particular will be held from 23 - 25 June 2023 at the fair venue.
