Dhaka, Thimphu agree to negotiate FTA: FS
Bangladesh and Bhutan have agreed to boost trade and negotiate a Free Trade Agreement (FTA) between the two countries apart from strong collaboration in the power sector, especially hydroelectric power.
Foreign Secretary M Shahidul Haque said this at a press conference arranged for the members of the Diplomatic Correspondents Association, Bangladesh (DCAB) at the Foreign Ministry on Monday.
“Bhutanese side has proposed to negotiate an FTA with Bangladesh…our Prime Minister has agreed on the proposal,” he said.
The Foreign Secretary hoped the negotiation will start soon, and the FTA will be signed which will play a vital role in boosting and minimising the trade gap between the two countries.
Sharing the outcome of Bhutanese Prime Minister Tshering Tobgay’s three-day visit, Shahidul Haque said power sector collaboration, especially hydroelectric power, came up very strongly at the discussion table. “Bangladesh expressed its desire in both areas -- either for joint investment or procuring power from Bhutan.”
The Foreign Secretary also said four major areas -- power sector collaboration, boosting trade, connectivity and capacity building -- came up largely during the bilateral talks between the two countries.
On connectivity, he said they focused on connectivity in a broader sense not concentrating on physical or road connectivity rather connectivity in terms of sharing thoughts, ideas and people to people connectivity. “Both countries agreed to work together in this area.”
He also said the two neighbouring nations agreed on going for transit among Bangladesh-India-Bhutan allowing movements of goods, services and people.
The Foreign Secretary said the issue of climate change also came up for discussion at the meeting.
Responding to a question, the Foreign Secretary said the bilateral agreement between the two countries has been renewed for another 10 years.
He said a new university, ‘Rangamati Science and Technology University’, will be set up and the Bangladesh Prime Minister sought support for the architectural design of the university following the Bhutanese design.
Shahidul Haque also said the Bhutanese Embassy will also be built following Bhutanese architecture. “A land of around 2.4 bighas has been given as a gift to Bhutan and its people.”
Meanwhile, both Bangladesh and Bhutan discussed ways to further intensify their mutually beneficial cooperation, including inter alia, in hydropower, water resources management, trade and commerce, connectivity, climate change, tourism, culture, education, agriculture, health and human resources development, according to a joint statement.
Recognising the utmost importance of enhancing regional connectivity, both sides agreed to jointly work towards that end both bilaterally and sub-regionally.
The two countries also agreed to work together to enhance collaboration in Water Resources Management and power/hydropower and connectivity in the sub-regional context.
Emphasising the need for enhancing trade relations for mutual benefit and recognising the huge potential it holds in bringing prosperity, the two sides agreed to diversify bilateral trade and take further trade facilitations measures for a deeper market access.
Bangladesh offered to export more products such as readymade garments, pharmaceuticals, ceramics, jute and jute goods, agricultural produce to Bhutan, while Bhutan agreed to look into that.
The Bangladesh side agreed to consider Bhutan’s request for sharing internet redundancy.
Recognising Bangladesh’s lead role in developing global awareness and international partnership on Autism and other neuro-developmental
disorders, the two sides agreed to work together to contribute to the process regionally and internationally.
Both sides laid emphasis on having a cultural exchange programme to further strengthen the common and unique cultural linkages that date
back to history.
Recognising the huge potential of tourism, the two sides agreed to further increase cooperation in this sector. It was also agreed to enhance collaboration in other sectors namely, education, health and human resources development.
Voicing concern about the adverse impacts of climate change on the two countries, the two countries stressed securing climate justice and equity based on the principles of UNFCCC; balanced allocation between adaptation and mitigation; clear provision of new, adequate and predictable financing; and enhanced technology development and transfer.
The Bhutanese Prime Minister left Dhaka on Monday afternoon wrapping up his three-day visit.
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