Customs-free BBIN Borders to Cut Time, Cost for Traders

7 September 2016

Customs-free borders for Bangladesh, Bhutan, India, and Nepal will save time and money for importers and exporters and thereby increase the ease of doing business, according to an executive of the Federation of Indian Exporters Organisation (FIEO).

The Bangladesh-Bhutan-India-Nepal Motor Vehicles Agreement for the Regulation of Passenger and Cargo Vehicular Traffic (BBIN MVA) will reduce the transaction time and cost for the customer, said Mr. Ajay Sahai, Director General of FIEO.

As part of a trial run for the BBIN MVA, a Bangladeshi truck carrying an imported consignment of ready-made garments rolled into the Customs Inland Container Depot in Patparganj, Delhi, India, on 5 September. The vehicle was affixed with GPS tracking equipment when it entered India through Petrapole and the cargo was sealed electronically. The trial run marks the first step by Indian Customs in adopting cutting edge technology for securing trans-shipment of import cargo.

As goods no longer have to be unloaded at the border, trucks can easily cross borders, reducing time and logistics costs for both buyer and seller. “GPS is a good weapon to track trucks. It will assure security and customers would know the location of the truck,” said Mr. Sahai.

The new trends aim to boost the ease of doing business by doing away with the time consuming and costly process of trans-shipment of goods at international borders.

The BBIN MVA was signed in Thimphu, Bhutan, on 15 June 2015 by the Transport Ministers of the four countries.

 

Related Link:

Energy Secretaries of Bangladesh, Bhutan, India, and Nepal held a virtual meeting to evaluate the state of energy...

Read More


The Central Board of Indirect Taxes and Customs (CBIC) of the Government of India released...

Read More


India Prime Minister Narendra Modi and Nepal Prime Minister KP Sharma Oli held a phone call to discuss...

Read More


A video conference among South Asian Association for Regional Cooperation (SAARC) senior trade officials was held on 8...

Read More


Mr. Arjun Goswami of the Asian Development Bank (ADB) emphasizes that amidst the threat posed by the COVID-19 pandemic, “what...

Read More


Member countries of the South Asia Association for Regional Cooperation (SAARC) held a Virtual SAARC Emergency meeting on...

Read More


The Governments of Bangladesh and India will undertake a joint study on an advanced free trade agreement (FTA)...

Read More