Bhutan,Taiwan sign agreement


Taiwan’s main trade promotion body and Bhutan’s largest business group signed a memorandum of understanding (MOU) Friday to work more closely together on bilateral trade promotion.

The MOU will serve as the basis for trade promotion and business exchanges between the two sides, the Taiwan External Trade Development Council (TAITRA) said in a statement Friday.

Topgyal Dorji, president of the Bhutan Chamber of Commerce and Industry (BCCI), signed the MOU on behalf of his country’s business delegation, while Chao Yuen-chuan signed on behalf of TAITRA in his capacity as the council’s secretary-general.

Through visits, seminars and trade fairs, Taiwan and Bhutan can form closer bilateral trade ties, Chao was quoted as saying.

The Himalayan kingdom has allowed increasing tourism in recent years and has great development potential, Chao said, describing Taiwan-Bhutan cooperation as mutually beneficial.

Although Bhutan has a tiny population, the South Asian Association for Regional Cooperation member now has one of the highest per capita incomes in South Asia at US$1,321, according to Bhutan’s official tourism website.

As Bhutan has no manufacturing industry and relies on imported products, there are business opportunities for Taiwanese entrepreneurs, according to TAITRA.

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