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There is a high level of compatibility between the two standards as one would expect.  It is our view that the adoption of PRINCE2 would enhance the implementation of the PMBOK standards by providing greater depth and structure to the establishment of project environments, and by providing a more rigorous approach to the setting up, running and closing down of individual projects.  Also the adoption of the PMBOK to a PRINCE2 based organisation will help to identify the additional areas which need to be addressed in  order to give projects the best chance of success, such as the soft skills needed.  Below are some specific points regarding PRINCE2 and PMBOK.
PRINCE2 specific strengths.
There is no equivalent PMBOK pre-project process to PRINCE2's `Starting up a Project' (SU), so there is no discussion of what or who should be in place at the beginning of a project, nor of how to go about getting it if it is lacking.

PRINCE2 offers a complete change control approach, whereas PMBOK just talks of the need for it.

PMBOK says little about configuration management, and certainly offers no link between it, the Configuration Librarian role and change control.

The PMBOK only talks about a Project Plan, whereas PRINCE2 offers Stage and Team Plans and discusses the advantages of breaking the Project Plan down, e.g. for easier planning and better control.

PRINCE2 offers standard roles for its project management team.

The PMBOK only covers the creation of a WBS, and does not compare to the PRINCE2 Product-based Planning technique in terms of the latter's Product Descriptions and Product Flow Diagram. Nor is there any real detail in the PMBOK Planning process to take a plan through to a network plan and a Gantt or bar chart.

The Product Description is far more positive about what information should be provided to the producer of a product. The PMBOK offers only vague advice.
PMBOK specific strengths.
The PMBOK covers procurement.

The PMBOK covers the actual procurement, pre-assignment or negotiation for team members for a project in some detail.