Reducing Dhaka-Thimphu trade gap stressed
Wednesday, 28 April 2010
Entrepreneurship on the part of Bangladeshi businesses kept untapped Bangladesh-Bhutan economic links with current trade balance largely favouring the landlocked Himalayan kingdom, Bhutanese officials said in the city Monday.
"It appears that Bangladeshi businessmen consider Bhutan to be an insignificant market despite huge prospects of their products in our country," the Economic Affairs Secretary of the Himalayan Kingdom Sonam Tshering told BSS.
He added that Bhutan could be a very prospective market for Bangladeshi products like construction materials along with electronic accessories while Thimphu currently imported products including readymade garments, ceramics and shoes against its exports of fruits and minerals.
But with the channelling the two items alone, Bhutan's current export to Bangladesh stands at US$25 million while its imports on the other hand is only $3.0 million.
Mr Tshering's comments came as the heads of governments of the eight-nation South Asian Association for Regional Cooperation (Saarc) were set to take a decision to implement the much talked about SAFTA, the regional free trade agreement, in their attempts to reduce the existing trade gaps between themselves.
Mr Tshering, however, appreciated the developments in recent months that proposed to open second land route from Haluaghat in Mymensingh district of Bangladesh with Eastern Bhutan alongside the current road links from Burimari of Lalmonirhat with western Bhutan for enhanced trade links.
He said the understanding reached between the two countries allowing Thimphu to use the Mongla port facility would reduce Thimphu's dependence on India's Kolkata port alone while it would enable Bangladesh earn a huge revenue to reduce the existing trade gap.
"It appears that Bangladeshi businessmen consider Bhutan to be an insignificant market despite huge prospects of their products in our country," the Economic Affairs Secretary of the Himalayan Kingdom Sonam Tshering told BSS.
He added that Bhutan could be a very prospective market for Bangladeshi products like construction materials along with electronic accessories while Thimphu currently imported products including readymade garments, ceramics and shoes against its exports of fruits and minerals.
But with the channelling the two items alone, Bhutan's current export to Bangladesh stands at US$25 million while its imports on the other hand is only $3.0 million.
Mr Tshering's comments came as the heads of governments of the eight-nation South Asian Association for Regional Cooperation (Saarc) were set to take a decision to implement the much talked about SAFTA, the regional free trade agreement, in their attempts to reduce the existing trade gaps between themselves.
Mr Tshering, however, appreciated the developments in recent months that proposed to open second land route from Haluaghat in Mymensingh district of Bangladesh with Eastern Bhutan alongside the current road links from Burimari of Lalmonirhat with western Bhutan for enhanced trade links.
He said the understanding reached between the two countries allowing Thimphu to use the Mongla port facility would reduce Thimphu's dependence on India's Kolkata port alone while it would enable Bangladesh earn a huge revenue to reduce the existing trade gap.