MoU expected to be signed as Bhutanese king arrives tomorrow

The creation of a special economic zone for Bhutan in Kurigram will open new avenues for business and trade between Bangladesh and its South Asian neighbour.

Bhutanese King's Visit to Bangladesh Sparks Economic Opportunities

Hey there, dear readers! Exciting news on the horizon as the Bhutanese King Jigme Khesar Namgyel Wangchuck is all set to grace Bangladesh with his presence. Get ready for a whirlwind of economic possibilities as a memorandum of understanding is expected to be signed during his five-day visit, starting tomorrow.

The Birth of a Special Economic Zone

Picture this: a special economic zone nestled in Kurigram, tailored specifically for our Bhutanese friends. This zone is not just a mere piece of land; it's a gateway to a thriving business and trade partnership between Bangladesh and Bhutan. The Bangladesh Economic Zones Authority (Beza) officials are buzzing with excitement over the potential this zone holds. Kurigram's strategic location, right at the doorstep of Bhutan, offers easy access through various ports, making trade a breeze. With Sonahali and Roumari land ports and Chilmari river port in the vicinity, the economic zone is poised for success. The proximity to Bhutan is an added bonus, creating a seamless connection for trade activities.

Preparations in Full Swing

The Beza team has been working tirelessly behind the scenes to ensure a smooth transition into this new era of economic collaboration. A draft agreement is already in place, awaiting the green light from the Prime Minister's Office for the grand signing ceremony between the two nations. Executive Chairman Shaikh Yusuf Harun, the mastermind behind this initiative, recently hosted the Bhutanese ambassador for a tour of the Kurigram site. The proposed economic zone, aptly named "Kurigram Economic Zone-1," is set to encompass various mouzas within the Kurigram sadar upazila. With over 133 acres of land already secured and more on the way, the stage is set for a groundbreaking partnership.

A Promising Future

The seeds of this economic collaboration were sown during a meeting between Prime Minister Sheikh Hasina and the Bhutanese King back in 2023. Fast forward to today, and we are on the brink of witnessing a monumental leap in trade relations between the two countries. The establishment of this special economic zone is not just a mere gesture; it's a promise of growth and prosperity for both nations. Local residents, like Hamid Uz Zaman Mamun from Kurigram, are already envisioning a brighter future. The prospect of industrial factories sprouting up in the economic zone brings hope for increased employment opportunities in the area. The ripple effect of this development is bound to transform the landscape of business and commerce in Kurigram.

Boosting Trade Ties between Bangladesh and Bhutan

Let's talk numbers, shall we? Bangladesh and Bhutan inked their first preferential trade agreement in 2020, paving the way for duty-free exports and imports between the two nations. The trade volume between the countries reached a commendable $45.06 million in the fiscal year 2021-22, with pharmaceuticals, ceramics, garments, and food items leading the export front. Beza's ambitious goal of establishing 100 economic zones by 2041 is a testament to the nation's commitment to economic growth. The aim is not just to create jobs but to foster a culture of innovation and productivity. With plans to generate $40 billion worth of exports annually from these economic zones, the future looks bright for Bangladesh. G2G economic cooperation is also in the works with countries like Japan, India, and China. Among these partnerships, Japan has shown significant progress, with the Japanese economic zone in Araihazar ready to welcome investors. The stage is set, the players are in position, and the game of economic prosperity is about to begin. Get ready to witness history in the making as Bangladesh and Bhutan embark on a journey of shared prosperity and growth. The wheels of progress are in motion, and the future is looking brighter than ever. Stay tuned for more updates on this exciting economic adventure!

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Arman Alif

Hi, Ali Rahman in the house! From Chittagong, Bangladesh, I've been on a wild ride from Banskhali Bangabandhu High School to Govt. Alaol College and beyond, landing me at National University. Now, I'm here to dish out the lowdown on national issues and global news. Stick around for a fresh take on what's shaking up our world! Connect With Me