CURRENT AFFAIRS

Detailed explanation-1: -In 1971, Bhutan was the first country in the world, followed by India as the second, to recognise Bangladesh as an independent country. Under the PTA 100 Bangladeshi products will get duty free access to Bhutan. At the same time, 34 items from Bhutan will get duty free access into Bangladesh.

Detailed explanation-2: -Bangladesh has finally made the duty-free market-access facility under preferential trade agreement (PTA) effective for Bhutan through a much-awaited statutory regulatory order (SRO). The customs authority offered tax waiver on import of 16 Bhutanese products by issuing the SRO.

Detailed explanation-3: -The signing of PTA marked the 50th anniversary of the recognition of Bangladesh by Bhutan. Bhutan was the first country to recognise the independence of Bangladesh on December 6, 1971.

Detailed explanation-4: -Today, twenty-two states are members of the PTA: Angola, Burundi, Comoros, Djibouti, Eritrea, Ethiopia, Kenya, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Rwanda, Seychelles, Somalia, Sudan, Swaziland, Tanzania, Uganda, Zambia and Zimbabwe.

Detailed explanation-5: -The two nations unveiled the first unit of the Maitree super thermal power project being built in Khulna division of Bangladesh with concessional funding from India. The unit was synchronized with Bangladesh’s power grid in August 2022, and the project will generate 1, 320MW, when completed.