India, Bhutan sign trade agreement

Q.  India and Bhutan have signed which agreement on 14th Nov 2016?
- Published on 14 Nov 16

a. Agreement on Trade
b. Agreement on Commerce and Transit
c. Agreement on Trade, Commerce and Transit
d. None of the above

ANSWER: Agreement on Trade, Commerce and Transit
 
India, Bhutan sign trade agreement India and Bhutan have signed an Agreement on Trade, Commerce and Transit that aims to enhance trade between countries through trade facilitation, cutting down documentation and adding additional exit/entry points for Bhutan’s trade with other nations
  • New bilateral trade agreements aim to enhance trade between two countries through trade facilitation by improving procedures, cutting down on documentation and adding exit/entry points for Bhutanese trade with other nations
  • This is also expected to strengthen excellent relations between the two countries
  • The first Agreement on Trade and Commerce between Bhutan and India was signed in 1972
  • Since then, the agreement has undergone renewal 4 times
  • Last agreement renewed on July 28, 2006 was valid till July 29, 2016.
  • Validity was extended for a period of one year or till the date of coming into force of the new Agreement whichever is earlier, by the exchange of diplomatic notes between India and Bhutan

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