Photo: Collected-
Metropolis Desk-
Following the signing of an “agreement on the movement of traffic-in-transit” in March of this year, Bangladesh has given Bhutan access to 15 entry and departure points for the transit of products.
Eight entry and exit points, including Samdrupjongkhar, Gelephu, Phuentsholing, Samtse, Nganglam, Gomtu, Paro International Airport, and Gelephu Airport, have been recognized by Bhutan for Bangladesh, reports Kuensel.
The 20 provisions of the agreement cover a wide range of topics, including port facilities, infrastructure provision, services at frontier posts, designations of transit routes, modes of transportation, customs duties and fees, and charges.
The deal will offer alternate transit channels for Bhutan’s trade with other nations, which is its second-largest trading partner. Officials claimed that the support gained by the government of India and its state governments while traveling through their territory is essential to the success of transit trade through Bangladesh.
Due to the existence of rival and better-organized carriers within India and Bangladesh, officials believe that Bhutanese traders may be able to extend their businesses into Bangladesh, but they may not initially reap considerable profits. Up until recently, a considerable amount of Bhutan’s trade with other countries was sent through the port of Kolkata, India.
Bhutan suggested last year that the pact be renamed from the “Agreement on Movement of Goods in Transit” to the “Agreement on Movement of Traffic-in-Transit”. The Agreement and its protocol were endorsed at the 8th CSLM, which took place in Dhaka in September 2022.
Karma Dorji, the minister of industry, commerce, and employment for Bhutan, and Tipu Munshi, the minister of commerce, signed a contract on March 22 of this year.
