Sherab Lhamo & Dema (Intern)

The establishment of the BBIN Chamber of Commerce sub-region (Bangladesh, Bhutan, India, and Nepal) was among a host of issues discussed during the Bhutan-India networking session held on June 2 in Thimphu.

Organised by Indian Chamber of Commerce (ICC) for members of Bhutan Chamber of Commerce and Industry (BCCI), the networking session brought together business delegations from the two countries to explore potential areas for trade and economic cooperation.

The former BCCI President, Ugen Tsechup Dorji, said a sub-regional cooperation like BBIN is not only necessary for improving regional cooperation but also to address several trade barriers confronting the sub-region.

He recommended the establishment of the BBIN Chamber of Commerce to address critical issues in the BBIN sub-region.

“If we have a crossborder non-tariff barrier issue with India or Nepal or Bangladesh, and if all the four countries agree to address the issue, but if Sri Lanka does not agree to it, the issue cannot be solved as it is a regional cooperation, not a sub-regional cooperation,” Ugen Tshechup Dorji said.

The Secretary General of the BCCI, Chandra B. Chhetri said BBIN Chamber will help ensure collective voices of the business sector within the region, acting as the regional intermediary business organisation. “It will play a key role in facilitating business and fostering trade and economic cooperation within the region.”

He said that the Chamber could undertake research studies, identify barriers to trade and advocate for necessary policy adjustment toward harmonising and simplifying procedures and processes for enhanced economic engagements within the BBIN sub-region.

The ICC will take the lead in the establishment of the BBIN Chamber. The plan is to set up the Chamber’s secretariat office in Kolkata, India. “The process has begun but it will take time,” Chandra B. Chhetri said.

Discussions also highlighted the need for a redressal authority to facilitate handling and management of complaints from the business communities. Currently, there is no proper channel to address issues related to non-delivery of goods, payment delays, non-payments, or other trade related issues.

Ugen Tsechup Dorji said that ICC and BCCI also need to create a common platform to showcase membership credentials from both the countries to build credibility and trust among the business communities. “Through this platform, businesses will be able to build contacts for trade,” he said.

The delegation from ICC comprised 28 business members representing various sectors, including real estate, media, healthcare, education, medicinal herbs, food processing, agriculture, chemicals, fertilisers, and paints, among others.

BCCI has identified several potential areas for FDI, such as  tourism, renewable energy, medical herbs and herbal and healthcare products, healthcare services, and infrastructure development, among others.

BCCI and ICC established a formal institutional relationship through a memorandum of understanding in 2015, which was later renewed in 2017.

BBIN countries signed a motor vehicle agreement to facilitate cross-border movement of passenger and cargo vehicles in the sub-region on June 15, 2015. However, Bhutan had to pull out of the deal after the Parliament did not ratify the agreement.