The India-Bhutan Trade Agreement 2017: A Comprehensive Overview
The India-Bhutan Trade Agreement, signed in November 2017, is a landmark agreement that has the potential to boost economic growth and trade between the two countries. This agreement is a testament to the long-standing friendship and cooperation between India and Bhutan.
The agreement covers trade in goods between the two countries. It aims to reduce trade barriers and increase the flow of goods across the border. This will benefit both countries, as it will open up new markets for their goods and increase their competitiveness in the global market.
Under the agreement, India has agreed to provide duty-free and quota-free access to Bhutan for all products, except for a few items such as alcohol and tobacco. India has also agreed to extend financial assistance to Bhutan for the implementation of the agreement.
In return, Bhutan has agreed to provide India with duty-free access for 12 products, including apples, oranges, and cardamom. Bhutan has also agreed to provide India with preferential treatment for 15 products, including milk, honey, and peaches.
The agreement also includes provisions for cooperation in other areas, such as investment, tourism, and transportation. It aims to increase investment in both countries and promote tourism between them. It also aims to improve the transportation infrastructure between the two countries, which will facilitate the movement of goods and people across the border.
The India-Bhutan Trade Agreement is a comprehensive agreement that covers a wide range of issues. It is a win-win situation for both countries, as it will help to boost economic growth and trade between them. The agreement is a testament to the strong friendship and cooperation between India and Bhutan, and it is expected to pave the way for further cooperation in the future.