Thimphu [Bhutan], April 5 (ANI): The meeting between Bhutan King Jigme Khesar Namgyel Wangchuck and Prime Minister Narendra Modi on Tuesday has garnered significant interest, especially in view of the heightened focus on the Doklam issue, The Bhutan Live reported.
The discussions between the two top leaders were hailed as “warm and productive,” and they produced a broad five-point roadmap for advancing India‘s “time-tested” ties with Bhutan. The Doklam problem was not specifically mentioned, but it is obvious that it is still a crucial area for India‘s strategic interests.

The five-point plan by the two leaders includes cooperation in a variety of areas, such as trade, connectivity, and investment, sustainable trade facilitation measures, new paradigms of cooperation in the energy sector, and cooperation in emerging industries like startups and space travel.
According to The Bhutan Live, the projected rail link project, which would be the first train link ever between Assam and Bhutan, between Kokrajhar and Gelephu is also included in the roadmap. India has also agreed to grant an additional standby credit facility at Bhutan‘s request and to increase its support for the next 13th Five-Year Plan.

The relationship between India and Bhutan is seen as “exemplary,” being marked by trust, goodwill, and understanding. The foundation of this connection is mutual respect, trust, a thorough understanding, and sensitivity to one another’s worries. The intertwined and indivisible nature of India‘s and Bhutan‘s security concerns are self-evident, and the two nations have a long history of close talks on issues pertaining to their shared security and interests. The roadmap to which the two leaders agreed is a crucial step in expanding the proven relationship between India and Bhutan.

In addition to improving connectivity between the two nations, the proposed rail link project between Kokrajhar and Gelephu will also strengthen commercial and trade ties. Bhutan‘s socio-economic development will be aided by India‘s support for the country’s upcoming Five Year Plan and the availability of an additional standby credit facility. The discovery of new areas of collaboration, like startups and space, emphasises the expanding breadth and depth of the relationship between India and Bhutan.

The exemplary relationship between India and Bhutan is proof of the value of respect, trust, and cooperation. The strategy proposed by PM Modi and King Wangchuck will only serve to deepen the two nations’ shared commitment to each other’s security and common interests, as per The Bhutan Live.

Even as the Doklam issue still remains a point of concern, the discussions between PM Modi and Wangchuck show a commitment to seeking amicable solutions and strengthening the relationship between the two nations. As India and Bhutan continue to strengthen their ties, the two countries will serve as a shining example of the benefits of cooperation and shared respect in international affairs, The Bhutan Live reported.

The Bhutan King arrived in Delhi on Monday. External Affairs Minister S Jaishankar called on him on Monday and hosted a dinner, which “involved good discussions and interaction” with the key CEOs of some of the Indian companies. King Jigme Wangchuck also called on President Droupadi Murmu. (ANI)

Bhutan appreciates India for extending Standby Credit Facility, currency swap of USD 200 mn

New Delhi [India], April 5 (ANI): Bhutan on Wednesday appreciated India for extending Standby Credit Facility at the reduced interest rate and extended settlement period, and for providing an additional currency swap support of USD 200 million, according to India-Bhutan joint statement released by the Ministry of External Affairs. India also agreed to positively consider Bhutan’s request to extend an additional Standby Credit Facility (SCF) for a period of five years, it said.

Bhutan also noted with satisfaction the timely flow of funds from the Government of India (GoI) to ensure smooth and uninterrupted progress of projects under the 12th Five Year Plan with about 90 per cent of India’s committed plan assistance to Bhutan already released. To take this exemplary development partnership forward, India agreed to step up support for Bhutan’s 13th Five Year Plan which was welcomed by Bhutan, joint statement said.

Both sides reviewed various elements of bilateral hydropower cooperation and expressed satisfaction that projects totalling 2136 MW, which have been jointly set up, are functioning well. Both sides also welcomed the recent handing over of 720 MW Mangdechhu HEP to Bhutan, added the statement.

Hydropower cooperation has been the cornerstone of the India-Bhutan bilateral economic partnership. It has been a productive arrangement for both countries whereby Bhutan receives a steady stream of revenue from the sale of power from hydropower plants which have been jointly developed and India benefits from the assured supply of energy. The role of hydropower projects in helping the Bhutanese economy during the COVID-19 inducted global economic slowdown was noted in this context.

In terms of ongoing projects, both sides reiterated their commitment to finding a technically sound and cost-effective way forward for Punatsangchhu-I HEP, the statement said. Both sides expressed satisfaction with the progress in the construction of the 1020 MW Punatshangchhu-II HEP and looked forward to its commissioning by early 2024. Both sides noted that the tariff discussions had been initiated and agreed to expeditiously conclude the tariff protocol for this project, read the statement.
On the periodic revision of the tariff of Chhukha HEP, the Bhutanese side welcomed India’s offer to revise the tariff to Rs 3 per unit, which represents a 17 per cent increase over the earlier tariff.

Bhutan thanked India for enabling the import of power from India to meet Bhutan’s energy deficit during the winter months. India agreed to positively consider Bhutan’s request for sale of power into the Indian Energy Exchange from the 64 MW Basochhu HEP. Both sides also reiterated the importance of cooperation in hydropower sector and the urgent need to review and finalize modalities for new projects including Sankosh HEP, read the statement.

India assured consideration of Bhutan’s request for access to financing and market for power sale for new and upcoming hydropower projects in Bhutan. It was also agreed to extend India-Bhutan energy partnership in the area of non-hydro renewables, such as solar and wind as well as in green initiatives for e-mobility. India assured necessary technical and financial assistance for projects in these areas.
On the proposed trilateral hydropower cooperation among Bhutan, Bangladesh and India, both sides expressed their commitment towards greater sub-regional cooperation, including in the energy sector, which would lead to increased inter-linkages between the economies for mutual benefit of all stakeholders, added the statement. The two sides welcomed the growing strength of bilateral trade and economic ties.

To further expand bilateral cooperation on trade, technology, cross-border connectivity, and mutual investments, following was agreed upon: To work on long-term sustainable arrangements for the export of agricultural commodities; To explore long-term bilateral arrangements for assured supply of critical commodities to Bhutan such as petroleum, fertilizers, and coal; To consider setting up the first Integrated Check Post along India-Bhutan border near Jaigaon and Phuntsholing; To take forward the project on the proposed cross border rail link connecting Kokrajhar in Assam to Gelephu in Bhutan; To expedite the operationalization of the Third International Internet Gateway for Bhutan; To take forward development of inland waterways connectivity and to work towards opening of additional Foreigners Check posts between Bhutan and Assam to facilitate the entry and exit of third country nationals between India and Bhutan by land rout, added the statement.

In terms of new areas of partnership which now encompass Startups, Space and STEM education, both sides welcomed the exceptional progress made in the space sector cooperation, including the recent launch of the first satellite jointly developed by India and Bhutan and the inauguration of the satellite’s ground earth station in Thimphu. At the invitation of the President Droupadi Murmu, King of Bhutan, Jigme Khesar Namgyel Wangchuck paid an official visit to India from April 3 to 5.

During his visit, he held talks with Prime Minister Narendra Modi. The King of Bhutan and Prime Minister Modi held discussions on the entire gamut of bilateral cooperation and on regional and global issues of mutual interest. The two leaders expressed satisfaction on the manner in which India and Bhutan assisted each other in the fight against the COVID pandemic. They agreed to closely work together for progress and development in the region as economies recover from the pandemic, it said.
PM Modi reaffirmed India’s deep commitment to unique ties of friendship and cooperation with Bhutan and reiterated continued and full support to the socio-economic development in Bhutan.

Guided by the philosophy of Gross National Happiness, and in consonance with the priorities of the people and Royal Government of Bhutan, both sides recognized that the long-standing Bhutan-India development partnership, is reflective of strong ties of friendship and cooperation based on trust and mutual understanding. (ANI)