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India-Bhutan new trade pact comes into force
August 1 , 2017
2671 days
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• The new agreement on trade, commerce and transit between India and Bhutan has come into force from July 29, a move which will further strengthen economic ties between the two countries.
• The agreement provides for a free trade regime between the countries and it also gives duty free transit of Bhutanese goods for trade with third countries.
• The bilateral trade relations between India and Bhutan are governed by this pact.
• The pact was last renewed on July 29, 2016 for a period of ten years. Its validity was extended for one year or till the new agreement comes into force.
• The bilateral trade between the countries has increased to USD 7.43 billion in 2016-17.
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