Bhutanese PM Expresses Interest in Signing FTA with Bangladesh

Bhutanese Prime Minister Tshering Tobgay today expressed strong interest in signing a Free Trade Agreement (FTA) with Bangladesh and linking the two countries’ economic zones to boost trade and investment.

He conveyed his keenness 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.

Tobgay said both countries could reap significant benefits if Bhutan’s Special Economic Zone, Gelephu Mindfulness City (GMC), is connected with the Special Economic Zone in Kurigram, which Bangladesh has officially allocated for Bhutanese investors.

Welcoming the proposals, Prof Yunus emphasized that Bangladesh and Bhutan should explore every opportunity to deepen trade and investment ties.
“Bangladesh and Bhutan can take their bilateral relations to a new level through improved connectivity, trade, and investment,” he said.

The Bhutanese prime minister also highlighted Bhutan’s plans to promote religious tourism, recalling that Buddhist monks from Bangladesh originally spread the faith in his country.

He added that Bhutan is eager to share its hydroelectric potential and open to investment from Bangladeshi pharmaceutical companies. Tobgay also sought Bangladesh’s support in establishing fiber optic connectivity in Bhutan.

The two leaders discussed regional and global issues, including the Rohingya crisis. Tobgay confirmed Bhutan’s participation in the upcoming UN-organized plenary session on the Rohingya issue, scheduled for September 30.

Praising Prof Yunus’s leadership, Tobgay said Bangladesh is in “good hands” under his stewardship. Referring to him as his “role model,” Tobgay affectionately addressed him as “My Professor.”

He also commended the design of Bangladesh’s new chancery building in Thimphu, inaugurated on September 9, which was built with the theme “Bay of Bengal at the Foothills of the Himalayas.”

Prof Yunus invited Prime Minister Tobgay to visit Bangladesh, and the Bhutanese leader accepted, suggesting he might make the trip before Bangladesh’s planned general elections in February next year.