Home / Knowledge / News / Textiles / Expanding exports becomes a priority to balance trade
Expanding exports becomes a priority to balance trade
15
May '08
Widening trade deficit of Bhutan is arousing concerns for the Government propelling the trade department to explore opportunities for building trade relations with US and EU countries.

South Asia and India are the core regions for Bhutanese exports with the latter recognized as the largest trading partner.

Bhutan's trade with India accounts for nearly 73 percent of the total trade volume. Besides, although, transaction outside South Asia has been as low as 10 percent but for the past two years it has been developing to reach 24 percent.

Registering a negative balance of trade for the past so many years is making it difficult to sustain the domestic manufacturing industries. The only viable solution is to develop exports in order to maintain trade equilibrium.

Trade officials have observed an export potential in areas of handicraft, textiles and agriculture among others and efforts are therefore being made to improve production in these areas and to find suitable market for their exports.

US is eyed as the most obvious market for Bhutanese products since it is the largest buying country. California in particular has a huge organic market which can be exploited by Bhutan in favor of increasing its trade.

Even now, the marketing section of agriculture ministry is exploring demands and specific products that could be produced and exported. However, according to experts, the main problem faced while exporting to third world countries was that of volume and continuity of production to meet international standards.

Another major obstacle in exports is the high costs of transportation and tariff, and an assurance that the products reach thier destinations safely.

Nonetheless, the trade department in collaboration with the EI Camino College, center for international trade and business training center is presently seeking ways to motivate and increase the capacity of exporters to develop competitive products.


Must ReadView All

India's ASSEFA reviving indigenous Karungani cotton

Textiles | On 22nd Aug 2018

India's ASSEFA reviving indigenous Karungani cotton

The Association of Sarva Seva Farms (ASSEFA) in India is currently...

Egypt working with industry to restore cotton reputation

Textiles | On 22nd Aug 2018

Egypt working with industry to restore cotton reputation

Egypt’s agriculture ministry is collaborating with the industry there ...

Courtesy: Magda Ehlers from Pexels

Textiles | On 22nd Aug 2018

Pakistan's textile exports stable in July 2018

The value of textile and garment exports from Pakistan remained...

Interviews View All

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Dr. Rene Wollert
Freudenberg Nonwovens

Dr. Rene Wollert discusses the current scenario of the global nonwovens...

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search