Business in Bhutan, Thimphu

The purposes of the subject “Foreign Trade and Business in Bhutan” are the following:

1. To analyse the Bhutanese Economy and Foreign Trade (Import, Export, FDI)
2. To know the business opportunities in Bhutan
3. To explore the Bhutanese trade relations with the country of the student
4. To know the Bhutanese Trade Agreements
5. To examine the profile of Bhutanese companies
6. To develop a business plan for the Bhutanese market

Bhutanese Free Trade Agreements (FTA) and Preferential Access.

1. Bhutan and the Buddhist Economic Area / Hindu Economic Area
2. India-Bhutan Free Trade Agreement (FTA)
3. Agreement on Trade, Commerce and Transit with India
4. Bangladesh-Bhutan Free Trade Agreement (FTA)
5. Asian Clearing Union (ACU)
6. South Asian Association for Regional Cooperation (SAARC)
   1. South Asian Free-Trade Area (SAFTA)
7. Bay Bengal Initiative (BIMSTEC)
8. Generalised System of Preferences (European Union)
9. South Asia Subregional Economic Cooperation (SASEC)

Trade Facilitation Programs

1. World Trade Organisation (WTO) (in process of accession)
2. World Customs Organisation (WCO)
   1. Revised Kyoto Convention (RKC)

Asian Trade and Economic Organisations

1. Asia-Middle East Dialogue (AMED)
2. Asian Development Bank (ADB)
3. Economic and Social Commission for Asia and the Pacific (ESCAP)
4. Colombo Plan
5. Asia Cooperation Dialogue (ACD)
6. Africa-Asia Strategic Partnership

Global Economic Organisations

1. United Nations (UN)
   1. Conference on Trade and Development (UNCTAD)
   2. International Trade Centre (INTRACEN)
   3. World Intellectual Property Organisation (WIPO)
2. World Bank (WB)
3. World Trade Organisation (WTO)
4. International Monetary Fund (IMF)
5. Bhutan is eligible for the European Investment Bank
6. World Customs Organisation (WCO)

The Kingdom of Bhutan.

1. Population of Bhutan: 768,198 people
2. Bhutan is one of the smallest countries (38,394 square kilometres)
3. Bhutan is a landlocked country
4. Bhutanese Frontiers: China (Tibet) and India (Sikkim, West Bengal, Assam, and Arunachal Pradesh)
5. Official language of Bhutan: Dzongkha
6. Main Bhutanese ethnic group: Dzongs
7. Type of Government: Unitary Parliamentary constitutional monarchy
8. King of Bhutan: Jigme Khesar Namgyel Wangchuck
9. The capital of Bhutan is Thimphu (45% of the GNP of the country)
10. Bhutanese Internet TLD: bt

Buddhism (Vajrayana) is the main religion in Bhutan

1. Hinduism is the second religion (30% of the Bhutanese population)

Bhutan belongs to the Buddhist and Hindu Economic Area

Bhutanese Economy.

1. The main sectors of the economy of Bhutan are agriculture, cottage industries, and tourism
2. The main Bhutanese crops are rice, wheat, maize, apples, and oranges
3. Industrial sector of Bhutan (mainly located in Pasakha): cement, steel, breweries (Coca-Cola), and wood based industries
4. Bhutanese Mineral resources: coal, slate, dolomite, gypsum, and graphite
5. Huge hydroelectricity potential
6. GDP per capita of Bhutan: 2,611 USD
7. Bhutanese GDP growth: 5.4%
8. The Gross National Happiness was created by His Majesty (the third Druk Gyalpo Jigme Dorji Wangchuck)
9. Currency of Bhutan: Bhutanese ngultrum (BTN) and Indian Rupee (INR)

Foreign Trade of Bhutan.

1. The largest Bhutanese export markets are India, Bangladesh, the United States, the Netherlands, Germany, Singapore, and Nepal
2. The main imports are oils, parts, motors, wood charcoal, rice, and coke
3. The main providers of Bhutan are India, China, Thailand, Singapore, Sweden, Saudi Arabia, and Malaysia