Agri-food conference paves way for Bhutan to achieve $5 billion GDP by 2029

YK Puddle

A two-day agri-food conference concluded today in Thimphu, which discussed long-standing challenges in the sector, promoted buyer-seller exchange programmes, and addressed the needs of local farmers.

More than 80 participants attended the meeting, which aimed to achieve the goals of the 13th Five-Year Plan by integrating farmers, aggregators, government officials and all relevant agencies.

Through a combination of strategic priorities, flagship projects and targeted financial investments, the conference aims to advance the country’s vision of achieving a gross domestic product (GDP) of US$5 billion by 2029.

Department of Agricultural Marketing and Cooperatives (DAMC) Director Tashi Dorje stressed that the main objective of the conference is to address the marketing challenges faced by farmers, which is a key factor in achieving the goals of the 13th Five-Year Plan.

He stressed the importance of increasing the GDP of agriculture and livestock, with the target of increasing it from 31 billion Ngultrums in 2023 to 50 billion Ngultrums in 2029 at current prices.

“More such sessions will be held at various locations as DAMC plays a key role in marketing support,” he said.

He noted that the government will allocate N1.8 billion to improve the business ecosystem and will introduce regulatory reforms and policies to support the agri-food sector. “Access to finance, incentives and infrastructure are the top priorities.”

About 15 economic development and marketing officials and county agricultural officials presented reports on the annual agricultural and livestock production in their respective counties. They provided in-depth analysis of current market conditions, business strategies and linkages, and outlined the 13th Five-Year Plan.

The plans include extensive marketing and sale of agricultural and livestock products in various areas such as hotels, tourist centers, hospitals, schools and Jiasong College.

As part of the programme, a panel discussion was also held where government officials from various departments addressed queries of farmers and entrepreneurs.

The Ministry of Agriculture and Animal Husbandry released the 13th Five-Year Plan document on August 28.

According to ministry officials, the total indicative expenditure of the plan is N14,983.15 million. The plan prioritizes five key projects: promoting large-scale commercial agriculture, supporting resilient smallholder farmers, promoting high-value products, improving the business environment and enhancing services.

To ensure the realization of these plans and provide better export assistance, the Ministry’s Secretariat will take steps to improve policies, improve governance infrastructure, and develop guiding procedures for accessing financing and incentives.

The conference was organized by DAMC in partnership with the World Bank’s South Asia Policy Leadership for Improved Nutrition and Growth project.

Kinley Yangzom, chief trade officer at the Ministry of Industry, Commerce and Employment, said Bhutan currently has 78 products under the “Made in Bhutan” brand and nine products under the “Grown in Bhutan” brand.

“The dry ports at Pasaka, Nganglan, Glepu and Sumte will be established in the early stages of the 13th or 14th Five-Year Plan,” she said.

The department has launched an online trading platform to provide convenience to traders across the country.

Last year, Bhutan’s agricultural exports amounted to 36 billion Ngultrums and imports amounted to 107 billion Ngultrums.

To ensure the success of these programs and provide better export assistance, the ministry plans to take several initiatives focusing on policy improvement, governance infrastructure, and developing financing guidance procedures and incentive mechanisms.

The conference was jointly organized by DAMC and the World Bank’s South Asia Policy Leadership for Improved Nutrition and Growth project.