According to latest media reports in Bangladesh, exports from Bangladesh to Bhutan could rise rapidly, on the back of the bilateral trade pact signed last year, after shipment between the two southasian nations saw a significant upward trend.
The two countries struck their maiden preferential trade agreement (PTA) on December 6 last year.
The deal, albeit only 10 months old, has proven worthy as merchandise shipments have grown significantly recently.
In the fiscal year of 2020-21, earnings from merchandise shipments to Bhutan stood at $6.89 million, a 58.03 per cent rise from $4.36 million a year ago, according to data from the Export Promotion Bureau.
Media reports claimed that the two-way trade balance is in favour of Bhutan as Bangladesh imports a lot of fruits and stones from the former.
Experts in Bangladesh say the signing of the PTA was a good beginning as the country is negotiating trade pacts with major trading partners in order to ensure duty benefits once Bangladesh graduates from the grouping of the least-developed countries in 2026.
Rizwan Rahman, president of the Dhaka Chamber of Commerce and Industry, also called for carrying out a survey to see if any Bangladeshi exporter faced any issues in exporting to Bhutan and vice versa.
In addition, Bangladesh exported nearly $0.32 million worth of garment items to Bhutan in the last fiscal year.