Bhutan businessmen interested to invest in joint-venture

Bhutanese businessmen Saturday expressed their interest to invest in tourism, construction, light engineering and agro-based industry in Bangladesh through joint venture.

The expression of interest for joint venture investment came at a meeting between the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the visiting business delegation of Bhutan in the city.

Welcoming the 12-member business delegation, acting  President of FBCCI Monowara Hakim Ali said, "Bangladesh and Bhutan have been partners in trade for a long time, but the volume of trade is insignificant. The business communities of both the countries need to proactively work to realise the trade potential".

Bangladesh could offer high quality products for export to Bhutan, including ready made garment (RMG), dry food and spices, information and communication technology (ICT) software, construction materials, light engineering products etc. Bhutan could easily produce hydro-electricity and export it to Bangladesh.

She suggested the renewal of the existing bilateral trade agreement between Bangladesh and Bhutan that will help enhance two way trade.

Exports from Bangladesh to Bhutan fluctuated over the last one and a half decades between US $ 9.13 and $ 0.02 million. On the other hand, imports from Bhutan increased significantly from $ 8.60 million in the fiscal year (FY) 2005 to $ 24.70 million in FY 2013.

Bangladesh exported goods to Bhutan worth $ 1.90 million while imported products $ 22.50 million during the fiscal year (FY) 2014.

"Bangladesh is our neighbouring country. We see a lot of opportunities for increasing bilateral trade," Gyem Tshering who is leading the Bhutanese business delegation told the FE.

Directors of FBCCI and businessmen of different sectors of the country and Yonten Gyamtsho, Counsellor (Trade) of Royal Bhutanese Embassy, among others, were present.   

talhabinhabib@yahoo.com