India on Monday June 15,2015 signed a major motor vehicles pact with three SAARC
nations, Bhutan, Bangladesh and Nepal that will enable seamless transit
of passenger and cargo vehicles among them.
Road Transport and Highways Minister Nitin Gadkari on Monday signed the Bangladesh, Bhutan, India and Nepal (BBIN) Motor Vehicle Agreement (MVA) for Regulation of Passenger, Personal and Cargo Vehicular Traffic along with transport ministers of the other three nations at Bhutan's capital Thimpu
The BBIN MVA will not only reduce transport costs, but also foster development of multi-modal transport and transit facilities, enabling increased connectivity and promotion of greater trade between the four countries.
Transport Minister Gadkari, addressing the conference at Thimpu, said: "This MVA, which would eventually allow motor vehicles of all categories registered in our countries to move freely in the region, is a first and small but substantial step endorsing the commitment of our national leaders to deepen regional integration for peace, stability and prosperity."
As per the agreement, the four countries will carry out a six-month work plan from July for the implementation of the BBIN MVA in accordance with the preparation of bilateral, perhaps trilateral or quadrilateral agreements and protocols, installation of the prerequisites for implementing the approved agreements, among others
A similar pact is on the anvil among India, Myanmar and Thailand that will pave the way for greater economic cooperation in the Asian region.
Road Transport and Highways Minister Nitin Gadkari on Monday signed the Bangladesh, Bhutan, India and Nepal (BBIN) Motor Vehicle Agreement (MVA) for Regulation of Passenger, Personal and Cargo Vehicular Traffic along with transport ministers of the other three nations at Bhutan's capital Thimpu
The BBIN MVA will not only reduce transport costs, but also foster development of multi-modal transport and transit facilities, enabling increased connectivity and promotion of greater trade between the four countries.
Transport Minister Gadkari, addressing the conference at Thimpu, said: "This MVA, which would eventually allow motor vehicles of all categories registered in our countries to move freely in the region, is a first and small but substantial step endorsing the commitment of our national leaders to deepen regional integration for peace, stability and prosperity."
As per the agreement, the four countries will carry out a six-month work plan from July for the implementation of the BBIN MVA in accordance with the preparation of bilateral, perhaps trilateral or quadrilateral agreements and protocols, installation of the prerequisites for implementing the approved agreements, among others
A similar pact is on the anvil among India, Myanmar and Thailand that will pave the way for greater economic cooperation in the Asian region.
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