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Bhutanese experience

Bhutanese experience. Mr. Sherab Tenzin Joint Director,Foreign Trade Division Ministry of Trade and Industry. Outline of Presentation. Overview of Economy Direction of Trade 9 th Plan Activities. Overview of Economy. GDP estimate– $840million GDP growth rate 6.5%

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Bhutanese experience

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  1. Bhutanese experience Mr. Sherab Tenzin Joint Director,Foreign Trade Division Ministry of Trade and Industry

  2. Outline of Presentation • Overview of Economy • Direction of Trade • 9th Plan Activities

  3. Overview of Economy • GDP estimate– $840million • GDP growth rate 6.5% • Per capita GDP USD $ 800 • GDP share of Primary sector – 27% at present (declining) • GDP Share of Secondary Sector 41.8% • GDP Share of Tertiary Sector 31.2% • Recent years , lead sector of growth are mining, manufacturing, energy, transport and construction

  4. Export and Import I. OVERALL BALANCE OF TRADE INCLUDING ELECTRICITY

  5. Assessment of Trade • India dominant - 92% Total Trade • 93.85% Exports • 91.19% Imports • Except Bangladesh no other country significant • Exports to Bangladesh 4.29% • Imports from Bangladesh 1.22%

  6. Enabling Environment • Formulating, framing and amending relevant laws and regulations to provide a transparent, predictable, less bureaucratic and business friendly environment: • Trade license rules and regulations • Import policies, rules and regulations • Export policies, rules, etc. • Liberalization/Simplification of Licensing process • Licensing Reforms

  7. Marketaccess • Bilateral • Free Trade Agreement (FTA) with India (2006) • Preferential Trade Arrangement (PTA) with Bangladesh (2003) • Regional Trade Arrangements (RTAs) • FTAs under SAFTA & BIMSTEC under negotiation • Global • Accession to the WTO

  8. Rationale for memberships • Legal Framework for Trade Relations • Stability and Predictability • Dispute Settlement • Foreign Direct Investment • Enhance sovereignty

  9. Export Promotion • Trade Fairs and Exhibitions • Market Research • Information gathering and dissemination • Reorganization of Bhutan Export Centre • Exporter Development • Marketing and Promotion (Overseas focus) • Trade Facilitation (coordination)

  10. Trade Development Agency -Exporter Development • To prepare exporters to enter markets and promote international competitiveness • Export Readiness Prgs, Branding Prg, Quality Prg, Awareness Building, Info handbooks

  11. Trade Development Agency - Marketing and Promotion • To promote Bhutanese products and assist exporters to become proficient in overseas market development • Market Research, Market intelligence, Trade Missions, Trade Fairs, Export Showroom and Web site

  12. Trade Development Agency - Trade Facilitation • To facilitate and streamline export activities in coordination with other agencies and the pvt sector • Liaison with other agencies, Trade Services, Incentive Management

  13. Dry Port • Inland port facility to facilitate trade • Impetus for export growth • Reduce transaction costs • Promote value added logistic services • Overcome transit related problems

  14. Assistance needs • Export promotion and marketing • Supply side capacity building • E-commerce • Information networking • Training of trainers • Distance learning

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