New India-Bhutan trade pact cuts entry/exit points to four

New Delhi, July 28 (UNI) India and Bhutan today signed a new Agreement on Trade and Commerce reducing the number of entry and exit points to four instead of 12 as provided in the earlier pact.

The Protocol to the new Agreement signed by Commerce and Industry Minister Kamal Nath and Bhutanese Minister of Trade, Industry and Power Lyonpo Yeshey Zimba, provides for two entry and exit points each for land routes and sea routes. The land routes would be from Phulbari and Dawki while the sea routes are Mumbai and Chennai.

The fresh trade pact also eases the import/export procedures.

Instead of the existing format for Bill of entry for transit goods of Bhutan, the new protocol provides for a letter of guarantee from the Government of Bhutan against diversion of transit goods pertaining to Bhutan en route in India.

The new protocol also provides for movement of goods from one part of Bhutan to another through the Indian territory by giving a transit declaration in the prescribed form, and in case such consignment consists of third country origin there has to be an undertaking by the Government of Bhutan that the same is meant for consumption in Bhutan.

The new Agreement, along with its Protocol, would be valid for a period of ten years, an official release said.

UNI PC DKS HS1805