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

Korean International Cooperation Agency Contributes US$4m To WFP Bhutan, In Support Of School Feeding Programme

It seeks to assist the transition and scaling-up of the school feeding programme to a national school nutrition programme.

Dec 13, 2019 14:18

Canadian Delegation Held 1st Biennial Consultations, Set To Foster Closer Ties With Bhutan

The two sides exchanged views on the recent political, economic developments and bilateral cooperation in Bhutan and Canada.

Nov 26, 2019 23:38

Features

Civil Servants Sponsored Festival In Remote Village Of Bhutan, Brought Joy To Many

The tshechu draws devotees from across the dzongkhag, and even the neighbouring Indian town of Tawang.

Dec 11, 2019 13:18

Five High End Hotels From Bhutan Bagged International Awards

The five award winning hotels are: dusitD2 Yarkay, Terma Linca Resort and Spa, Zhiwaling Heritage, Le Meridien Thimphu and Taj Tashi hotels.

Dec 02, 2019 22:38

Sports

Karma – Female Archer From Bhutan Qualified For Tokyo 2020 Olympic Quota

Karma has been specialising in Olympics-style archery since 2009.

Nov 30, 2019 13:18

Bhutan’s Pelden Wangchuk Wins 10th Edition Of Tour 0f Dragon Mountain Bike Race

This year, the race also saw the highest number of female participants compared to past years.

Sep 10, 2019 01:08

Business

Celebrating Bhutan's Entrepreneurs: Namgyle Dorji & Nagendra Kafley Of Bundle.bt

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

Dec 09, 2019 14:38

India, Singapore And Thailand – Top 3 Asian Foreign Direct Investments In Bhutan

The total number of FDI projects in Bhutan stands at 83 as of November this year.

Dec 07, 2019 19:28

Travel

Bhutan’s Black-Necked Crane Festival Drawing More Foreign Tourists

Some 500 tourists from around the world came to Bhutan to see the Black-Necked Crane festival, exceeding the number of locals.

Nov 14, 2019 23:18

Bhutan Bird Festival Set Bird Watching Haven Of Zhemgang Abuzz

Zhemgang is home to more than 500 species of birds, which is an area much sought after by bird watchers from around the world.

Nov 13, 2019 12:48

Lifestyle

Bhutanese Textiles To Be Exhibited In Paris Trade Fair 2020

The exhibition is an initiative of the EU-Bhutan Trade Support project.

Nov 10, 2019 12:48

Launch Of Karen Greenspan’s Footfalls From The Land Of Happiness: A journey Into The Dances Of Bhutan

The book delves into familiar subjects that are what continues to shape Bhutan’s image.

Oct 05, 2019 10:18

Subscribe to our newsletter

Never miss out on new happenings and news stories!

Download Daily Bhutan Mobile App

Connecting with us just got easier!