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Bhutanese Prime Minister Tshering Tobgay has proposed signing a Free Trade Agreement (FTA) with Bangladesh and linking the two countries’ economic zones to boost trade and investment.

The proposal came during a meeting with Bangladesh’s Chief Adviser Prof Muhammad Yunus at the UN headquarters in New York on the sidelines of the 80th UN General Assembly on Friday.

Tobgay said Bhutan’s Gelephu Mindfulness City (GMC) Special Economic Zone could be connected with Bangladesh’s Kurigram SEZ, which has already been allocated for Bhutanese investors. Prof Yunus welcomed the idea, saying both countries should explore “all avenues to expand trade and investment.”

“Bangladesh and Bhutan can take their bilateral relations to a new level through improved connectivity, trade and investment,” Prof Yunus said.

Focus on energy, pharma and connectivity

The Bhutanese leader highlighted opportunities in religious tourism, recalling the role of Bangladeshi monks in spreading Buddhism in Bhutan. He also underlined Bhutan’s vast hydroelectric potential and expressed eagerness to attract investment from Bangladesh’s pharmaceutical sector.

Additionally, Tobgay sought Dhaka’s support in developing fiber optic connectivity to improve Bhutan’s digital infrastructure.

The two leaders also discussed the Rohingya crisis. Tobgay confirmed Bhutan’s participation in the UN plenary session on the issue scheduled for September 30.

Warm bilateral gestures

Praising Prof Yunus’ leadership, Tobgay said Bangladesh is in “good hands” under his stewardship, even referring to him affectionately as “My Professor.” He also lauded the newly inaugurated Bangladesh chancery building in Thimphu, themed “Bay of Bengal at the Foothills of the Himalayas.”

Prof Yunus invited the Bhutanese premier to visit Bangladesh, to which Tobgay responded positively, saying he might visit before Bangladesh’s general elections in February next year.