DHAKA, 7 December2020, (TON): Bangladesh has signed the first preferential trade agreement (PTA) with its neighboring country Bhutan on 6 December 2020. This new journey for both countries will strengthen their bilateral relations. On this date in 1971, Bhutan was the first to recognize Bangladesh as an independent and sovereign state, and both countries have made this day historic and memorable by signing the PTA.

Bangladeshi Commerce Minister Tipu Munshi and Bhutanese Economic Affairs Minister Lyonpo Loknath Sharma signed the deal on the side of their government respectively. Bangladeshi Prime Minister Sheikh Hasina and her Bhutanese fellow Lotay Tshering virtually joined this singing ceremony from their official residences in Dhaka and Thimphu individually.

Besides, both of them have jointly unveiled a logo and cut cakes for the celebration of the signing of the PTA and the 50 years of diplomatic relations. Under the agreement, Bangladesh will get tax free access to Bhutan on 100 Bangladeshi products and Bhutan will get tax free benefit on 34 products in Bangladesh. There is the possibility to be added items gradually in this regard. In the course of the signing ceremony, both countries' primer delivered their perspectives on the deal and emotional attachment between the two countries.

Prime Minister Sheikh Hasina mentioned the Bangladeshi people will get more fresh apples and oranges and the Bhutanese will get a wide variety of apparel from Bangladesh through this duty-free PTA. She also said the Bangladeshi construction project will be benefited more from boulder stones from Bhutan and Bhutan will get benefit from Bangladeshi pharmaceuticals for their health sector.

The primer of Bangladesh recalled Bhutan's support to Bangladeshi in the Liberation War of 1971 and said Bangladeshi people remain a special position for Bhutan which will lie everlasting in the history of Bangladesh.

She also added both countries are in the line of sharing ancient linkages, common cultural values, traditions, and geopolitical realities and have the ongoing engagement of the cooperative areas including trade, tourism, hydropower, climate change impacts, health, bio-diversity, agro-processing agriculture, ICT, education, water resource management, etc.

Mentioning the brotherly relationship with Bhutan, Sheikh Hasina said Bhutan can use the land route and waterway of Bangladesh. It can use any of our seaports including Chattogram, Mongla, and Payra, and can use the Saidpur Airport also.

The Bhutanese PM Tshering felicitated Bangladeshi primer for her successful economic growth during the pandemic and the materialization of her father's vision and legacy in independent Bangladesh. He also expressed his feelings that is happy to be a part of the upcoming historic occasion in which Bangladesh is celebrating the birth of the centenary of Father of the Nation Bangabandhu Sheikh Mujibur Rahman and 50 years of Bangladesh's independence to be celebrated next year. Tshering mentioned Bangladesh is his second home as he spent his 10-year student life in Bangladesh.

According to the commerce minister of Bangladesh, Bangladesh will sign such type of agreement with 11 countries including Nepal, Japan, and Indonesia by June next year. A Preferential Trade Agreement is under the WTO (World Trade Organization) principle. It is the medium to give preferential access to certain products by reducing tariffs. Under this Agreement the countries are benefited from the expansion of trade.