BBIN to sign Motor Vehicles Agreement on 15 June
25 May 2015
In a move toward subregional cooperation, transport ministers of four South Asian Association for Regional Cooperation (SAARC) countries – Bangladesh, Bhutan, India, and Nepal (BBIN) – will meet in Thimphu, Bhutan on 15 June 2015 to sign the Motor Vehicles Agreement (MVA). This will allow seamless movement of vehicles through their borders, similar to European Union countries.
BBIN has finalized the deal for seamless transit of passenger, personal, and cargo vehicles between their countries by end of 2015. The agreement will allow vehicles to ply designated routes in four countries and reduce time and cost of loading and unloading, making cross-border trade more efficient.
After the deal is signed, BBIN will set up individual national committees and a subregional joint committee for overall facilitation of land transport, including coordination and monitoring of the MVA. Implementing the agreement will help transform the four countries into economic corridors, enhance connectivity, and stimulate trade and commerce.
This four-nation MVA will take place a week after Indian Prime Minister Narendra Modi’s visit to Bangladesh to inaugurate the Dhaka-Shillong-Guwahati direct bus service between India and Bangladesh. Dhaka and New Delhi plan to open four more routes for bus services between Bangladesh and India. This is an initiative parallel to the proposed SAARC MVA and will be open to neighboring countries who are interested.
According to diplomatic sources, BBIN will set up an electricity grid and initiate power trading between the four countries after the MVA.
India, Nepal, Bangladesh, Bhutan to ink deal allowing movement of vehicles across borders
Bangladesh, Bhutan, India, Nepal to sign deal in June allowing seamless movement of vehicles through borders by end of 2015
Pact ready for seamless transit of vehicles in four SAARC nations