Prime Minister Paetongtarn Shinawatra of Thailand and Prime Minister Dasho Tshering Tobgay of Bhutan witnessed the signing of a Free Trade Agreement (FTA) between their countries.  The ceremony took place at the Thai Khu Fah Building, Government House in Bangkok, during the sixth BIMSTEC Summit hosted by Thailand on 3 April 2025.

The FTA was signed by Lyonpo Namgyal Dorji, Bhutan’s Minister of Industry, Commerce, and Employment, and Thailand’s Minister of Commerce, Mr. Pichai Naripthaphan, following four rounds of negotiations over the past nine months. The agreement aims to strengthen bilateral trade and investment, with both nations keen to deepen their economic cooperation.

Thailand is particularly interested in investing in Bhutan’s tourism industry, smart city projects, and digital infrastructure. In 2024, trade between the two countries reached THB 460.47 million, with Thailand exporting goods worth THB 457 million t and importing THB 3.47 million from Bhutan.

During their meeting, the two leaders also discussed the upcoming state visit of Thailand’s King and Queen to Bhutan and the celebrations marking the 30th anniversary of Thai-Bhutanese relations. Additionally, Prime Minister Tobgay expressed concern about the recent earthquake Myanmar, which had affected Thailand, praising Thailand’s effective disaster response.

Prime Minister Tobgay also thanked Thailand for its support of Bhutan’s “One Tambon, One Product” program, which has been adapted for Bhutan’s “One Gewog, One Product” initiative to boost local communities and products. Furthermore, both countries agreed to promote the “Two Kingdoms, One Destination” policy to enhance tourism cooperation.