Social News XYZ     

Cabinet nod for new free trade agreement with Bhutan

Cabinet nod for new free trade agreement with Bhutan
New Delhi, Oct 27 (IANS) The Union Cabinet on Thursday approved a new free trade agreement between India and Bhutan, which also provides for duty-free transit of Bhutanese merchandise for export to third countries.

"Trade relations between India and Bhutan are governed by an Agreement on Trade, Commerce and Transit," a Commerce Ministry statement said here.

"The agreement provides for free trade regime between the two countries. The agreement also provides for duty-free transit of Bhutanese merchandise for trade with third countries," it said.

 

The agreement was renewed in July 2006 for a period of 10 years.

The validity of the agreement was extended with effect from July 29, 2016, for a period of one year or till the new agreement comes into force through the exchange of diplomatic notes, the statement added.

Facebook Comments

%d bloggers like this: