The 9th Annual Ministerial Meeting of Landlocked Developing Countries (LLDCs) on Trade and Transport was held to discussed key issues in transport, transit cooperation, trade, and trade facilitation among LLDCs. Bhutan and Nepal sent delegations to the Meeting. They highlighted initiatives being taken to connect their countries to the global market, including bilateral agreements in the Bangladesh-Bhutan-India-Nepal subregion and the SASEC Trade Facilitation Program.
Tags: Trade, Trade Facilitation, Sustainable Development Goals, Cooperation, Connectivity, Bilateral Agreement, Bilateral Trade, Bangladesh, Bhutan, Nepal, SASEC, India, Transport, Ports, Customs, Roads, Single Window
Ms. Nirmala Sitharaman, Minister of State for Commerce and Industry, India, urged India and member countries of the Association of Southeast Asian Nations (ASEAN) to bolster efforts to increase bilateral trade and investment, and improve road and sea transport links. She urged a review of the ASEAN-India Trade in Goods Agreement to facilitate elimination of technical barriers to trade, and promoted transformation of the India-Southeast Asia transport corridors into economic corridors.
Tags: India, ASEAN, Bilateral Agreement, Investments, Roads, Transport
India is set to join the Transports Internationaux Routiers (TIR), or International Road Transport Convention in its bid to establish seamless trade connectivity with Southeast Asia and Eurasian countries. Through the TIR Convention, India could access Eurasia via the International North-South Transport Corridor. TIR would also give India an advantage in trade with fellow signatories of the Bangladesh, Bhutan, India, Nepal (BBIN) Motor Vehicles Agreement.
Tags: Bangladesh, Bhutan, India, Nepal, Connectivity, Customs, Economic corridor, Harmonization, Motor Vehicles Agreement, Road, Roads, Trade Facilitation, Trade, Transport, BBIN
The SASEC project portfolio has surpassed the $9 billion mark with the December 2016 approval of Nepal’s SASEC Roads Improvement Project, worth $256.5 million. There are now 44 SASEC investment projects worth a cumulative $9.13 billion. During 2016, seven projects have been approved for a total of $2.37 billion.
Tags: SASEC, Trade Facilitation, Energy, Transport, Roads, Nepal, Bangladesh, Bhutan, ICT, Rail, Economic corridor, Connectivity