Friday, Mar 29 2024 | Time 10:40 Hrs(IST)
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India


Govt approves agreement on Trade, Commerce with Bhutan

New Delhi, Oct 27 (UNI) The government today approved an agreement on Trade, Commerce and Transit between India and Bhutan. The decision was taken by the Cabinet chaired by Prime Minister Narendra Modi.
The bilateral trade relations between India and Bhutan are governed by the agreement on Trade, Commerce and Transit between the Government of India and Bhutan. The agreement provides for a free trade regime between two countries, the Commerce Ministry said in a statement.
The agreement also provides for duty free transit of Bhutanese merchandise for trade with third countries. The agreement was renewed on July 29, 2006 for a period of ten years. Its validity was extended with effect from 29th July 2016, for a period of one year or till the new agreement comes into force, through exchange of Diplomatic notes.
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