Agreement on Trade between the Royal Government of Bhutan and the People's Republic of Bangladesh

TIIE GOVERNMENT OF THE PEOPLE'S REPT]BLIC OF BANGLADESII

str. 2The Royal Govemment of Bhutan and the Govemment of the People's Republic of Bangladesh (hereinafter referred to as "Bhutan" and "Bangladesh" respectively);

Being urged by the desire to maintain, further develop and strengthen the existing cordial relations and spheres of co-operation on the basis of equality and mutual advantage;

Being convinced of the benefits that would accrue to their peoples as a oonsequence of expansion and diversification of trade and commerce between their territories;

Have agreed as followsi

ARTICLE-I

str. 2Both Bhutan and Bangladesh shall explore and undertake all measures necessary to promote, facilitate, expand and diversiff trade in goods between the two countries'

ARTICLE-II

str. 2Both Bhutan and Bangladesh shall accord each other the most favoured nation treatment in respect of issue of licenses, customs formalities, customs duties and other taxes, storag; and handling charges, fees and charges of any kind levied on export and import of goods to be exchanged between the two countries.

ARTICLE-III

str. 2with a view to promoting and expanding trade further, the two countries may accord tariff concessioni to each other through mutual consultations and may form a Joint Working Group for this PurPose.

ARTICLE-IV

str. 2The provision of Article II shall not, however, apply to the grant or continuance of any;

- (a) Advantages accorded by either Bhutan or Bangladesh to facilitate border fade;
- (b) Preference or advantages accorded by either Bhutan or Bangladesh to any third country before the date ofthe entry into force ofthis Agreement; and
- (c) Advantages resulting from any Customs Union or fiom an Agreement on free trade ione or from regional or multilateral arrangement to which either Bhutan or Bangladesh is or may become a member.

ARTICLE.V

str. 2Both Bhutan and Bangladesh shall conduct mutual trade in goods in accordance with the schedule A and B innexed to this Agreement and within the framework of their respective laws, regulations and procedures relating to import and _export_ of goods. This shajl not, howeverl preclude Bhutan and Bangladesh to conduct the trade in goods not enumerated in the said schedules.

ARTICLE-YI

str. 2Notwithstanding the foregoing provisions, either Bhutan or Bangladesh may maintain or introduce such restrictions as are necessary for the purpose of:

- (a) Protecting Public morals;
- (b) hotecting human, animal and plant life;
- (c) Safeguarding the implementation of law relating to the import and export of gold and silver bullion; and
- (d) Safeguarding such other interests as may be mutually agreed upon'

ARTICLE-YII

str. 2All payments in connection with exportation or importation of goods as well as other paym;nts shall be effected through mutually accepted mechanisms'

ARTICLE-VIN

str. 2The mutual trade in goods between the two countries shall take place by means of transportation and through the routes as may be mutually agreed upon'

ARTICLE-IX

str. 2For facilitating the movement of goods, both Bhutan and Bangladesh agree 1o provide necessary nuriber and means of transportation, warehousing and handling facilities at point or points of entry, exit or breakpoints, on such terms as may be mutually agreed upon, for the storage and speedy movement oftrade cargo'

ARTICLE-X

str. 3The movement of goods between the two countries shall be govemed by the procedures as laid down in the protocol hereto annexed. Except in case of failure to comply with the prescribed procedures, goods to be exported to or imported from either Bhutan or Bangladesh shall not be subject to unnecessary delays or restrictions.

ARTICLE.XI

str. 3Both Bhutan and Bangladesh shall consult each other as and when necessary and also review the implementation of this Agreement. For this purpose, representatives of Bhutan and Bangladesh shall meet on request by either Govemment at a place and time to be mutually agreed upon but not later than sixty days after the date ofrequest. Mutually agreed amendment(s) or supplement(s), if any, to this Agreement shall be made by exchange of letters between the two countries through diplomatic channel.

ARICLE_XII

str. 3Both Bhutan and Bangladesh shall encourage mutual exchange of information, particularty conceming their respective legislation and trade programs, as well other information of mutual interest. Both Bhutan and Bangladesh agree to promote trade cooperation by means of measures aiming to improvement of mutual trade, including:

(a) Anangement of fairs, exhibitions, conferences, advertising, consultancy and other business services;

- (b) Development of contacts between trade entities, manufacturers associations, chambers of commerce and other business associations of both countries; and

(c) Coordination of trade research on mutual basis to explore new trade potential in goods.

ARTICLE - XIII

str. 3This Agreement shall come into force from the date of its signing and shall remain valid for a period of five years. It shall be automatically extended for a period of five years unless one ofthe countries hereto gives notice in writing, six months in advance, of its intention to terminate this Agreement.

str. 4Done in Dhaka on the 66 day of December, Two Thousand and Fourteen and in two original copies in the English language.

(H.8. Norbu Wangchuk) Minister Ministry of Economic Affairs

On behalfof The Royal Govemment of Bhutan

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(H.E. Tofail Ahmed, MP) Minister Ministry of Commerce

On behalf of The Govemment of the People's Republic of Bangladesh

Exportable ltems of Bhutan to Bangladesh

Exportable items of Bangladesh to Bhutan