Bilateral trade between Bangladesh and Bhutan saw a significant increase to $22.1 million in the fiscal year 2022-23, doubling from previous levels, following the implementation of a preferential trade agreement (PTA) in 2022. This marked Bangladesh’s first PTA, as the country does not have any free trade agreements (FTAs) in place. Before the PTA, Bangladesh’s exports to Bhutan had never exceeded $10 million but reached $9.5 million in FY22 alone.
Economists see this success as an opportunity for Bangladesh to replicate similar agreements with other countries, with the Centre for Policy Dialogue Research Director Khondaker Golam Moazzem highlighting the necessity and advantages of such agreements for businesses in today’s global economy.
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