EU-Bhutan Trade Support Project Launched To Promote Brand Bhutan

Email

Since 1982, the EU and Bhutan has worked together in various development projects.

Strong ties between Bhutan and the EU. (Source: 123rf)

 

By Tshering Dorji | Kuensel

 

The European Union (EU) provided a fund of 4 million euros on 24 May to diversify the country’s export and to promote Brand Bhutan.

Since 1982, the EU and Bhutan has worked together in various development projects targeted to reduce poverty, enhance food security and to strengthen the democratisation process.

Aims of the EU-Bhutan Trade Support Project 

The EU-Bhutan Trade Support Project will span a period of 40 months and will be managed by the International Trade Centre (ITC) in collaboration with the government of Bhutan.

This project is expected to increase the country’s exports by developing a value chain on selected products of horticulture and textile handicrafts.

Source: behance.net

It will also develop efficient market linkages as well as a trade and investment regulatory framework.

The EU Ambassador, Tomasz Kozlowski said that the project was designed in consultation with the Bhutanese government, the private sector and the civil society organisation.

He said that the EU provides budgetary support without dictating any terms and conditions because Bhutan has already got well-established economic and social development policies in place.

“We have a strong conviction that the Bhutanese government knows better how to spend the fund. It is a reflection of our trust and confidence,” he said.

Irrespective of Bhutan’s LDC graduation status, he said that the EU would provide assistance and support to Bhutan.

As the country experiences economic transformation over time, Tomasz Kozlowski said that new instruments and new ways of collaboration must be explored as priorities change.

More engagement in various spheres between the EU and Bhutan

“The area of cooperation in science and technology has potential and scope in future,” he said.

He also added that other trade support programmes and investments could be explored with the European Investment Bank (EIU).

Moreover, the EU can accommodate more Bhutanese students to pursue higher education in European countries through programmes such as the Erasmus plus and Marie Curie Schemes, where fellowships are offered in research works.

The EU sanctioned a fund of 16.5m euros for rural development and climate change programmes. Another Euro 20m euros was also granted for the development of local government and fiscal decentralisation programs.

The Counsellor of political affairs, Thibault Devenlay said that technology transfer and capacity development in the field of renewable energy could be accommodated under the climate change programmes.

Between 2014 and 2022, the EU has committed an assistance of 52m euros for Bhutan. One of the EU delegates said that it is time for the country to come up with programmes and identify areas where budgetary support is required.

“Bilateral relations between the EU and Bhutan is beyond the development agenda,” the ambassador said, adding that political cooperation and ties are at its best.

 

This article first appeared in Kuensel and has been edited for the Daily Bhutan.

 

 

 


Related Posts

Japanese Language and Judo Centres to be Established in Bhutan

At the meeting with Lyonchhen Tshering Tobgay in Tokyo, the Prime Minister of Japan, Shinzo Abe said that Japan would...

Apr 19, 2018 00:21

Japan Provides 353 More Power Tillers

The Ambassador of Japan to Bhutan, Kenji Hiramatsu handed over 353 sets of power tillers and accessories worth Nu 137...

Jan 11, 2018 14:18

Bhutan – A Hidden Gem For Foreign Direct Investments

Of the total FDIs, 65 percent of the investors are from Asia, 25 percent from Europe, nine percent from America and the...

May 24, 2018 16:58

Nine Bhutanese Nature-Based Products Launched

The products include anti-wrinkle cream, balm, liniment oil, massage oil, perfume, soaps, and hand sanitisers developed...

Apr 07, 2018 16:25

Denmark to Support Bhutan’s Organic Agriculture

Bhutan officially launched the policy for organic farming in 2007 and proclaimed the intention to become a fully organic...

Oct 24, 2017 14:50

43 Bhutanese Receive Australian Government Scholarships

The 43 Bhutanese awardees come from various sectors and were selected on the basis of their potential to help build...

Nov 25, 2017 10:03

Latest

News

Conference On Biodemocracy - Balancing Political And Ecological Democracy Held In Bhutan

The conference helped to deepen democracy through discussions on harmonious coexistence.

Jul 20, 2019 19:38

Government Of Bhutan Injects Nu 1 Billion To Kick-start Organic Flagship Programme

To export a product as an organic, it will be certified only after proper laboratory tests have been conducted.

Jul 12, 2019 21:48

Features

Suhas Gopinath - World’s Youngest CEO Gave An Inspiring Talk On Innovation & Technology In Bhutan

“Technology is a means of survival in the competitive modern world with modern problems,” said Suhas Gopinath.

Jul 22, 2019 23:58

Inspired By His Majesty The King, The Reading Retreat Aims To Inculcate Reading Habits Among Bhutan’s Youth

The upcoming reading retreat, which is scheduled from July 21 – 27, is expected to attract 268 students from schools across Bhutan.

Jul 16, 2019 23:58

Sports

Bhutan’s Dragon Boys Starts FIFA World Cup Qualifiers With A 1-0 Win Over Guam

Midfielder, Tshering Dorji’s 35th minute strike was enough to make Bhutan win the first leg of the first round of the 2022 World Cup and...

Jun 08, 2019 22:18

Meet Choki Om – First Woman From Bhutan To Become A FIFA Referee

Originally from the district of Wangdue, Choki has already been a referee for over a decade.

May 16, 2019 20:58

Business

Celebrating Bhutan's Entrepreneurs: Kuenga Dendup & Pema C. Gyaltshen Of Kingdom Essenses

This story is part of an exclusive feature by Yeewong Magazine in Dec 2018 on celebrating entrepreneurship in Bhutan.

Jul 21, 2019 20:48

Bhutan Economic Forum for Innovative Transformation Conference Held To Boost Cottage & Small Industries

The Bhutan Economic Forum for Innovative Transformation Conference was held from 16-18 July in Thimphu.

Jul 18, 2019 22:32

Travel

Bhutan Has Great Potential To Be A Top Eco-Tourism Spot: Albert Teo

Despite Bhutan being home to a wide array of flora and fauna, it is still not a top ecotourism destination.

Jul 19, 2019 23:58

Ride Up Bhutan’s Legendary Tiger’s Nest Monastery And Enjoy The Scenic Trail On Horseback

Pony services to the Tiger’s Nest Monastery is expected to be more organised come next month.

Jul 17, 2019 21:28

Lifestyle

French Designer Christian Louboutin Releases Bhutan-inspired Shoe Collection

Bhutan’s rich craftsmanship inspired the designer’s latest collection.

Jul 06, 2019 08:53

An Exciting Line-Up Of Speakers To Be Featured In Bhutan’s Mountain Echoes Festival 2019

Themed ‘Many Lives, Many Stories’ - the festival, according to the press release, will mark its 10th anniversary with modern Bhutanese...

Jun 25, 2019 21:28

Subscribe to our newsletter

Never miss out on new happenings and news stories!