BBIN MVA for regulating and enabling passenger, personal and cargo vehicle cross border traffic

Image
Capital Market
Last Updated : Aug 07 2015 | 11:28 AM IST
An Agreement for regulation of passenger vehicular traffic between India and Nepal was signed on 25th November, 2014. This agreement facilitated starting of Delhi-Kathmandu and Varanasi-Kathmandu bus services which are operational at present. The agreement also has provisions to allow additional bus services and movement of personal vehicles between the two countries. The Transport Ministers of Bangladesh, Bhutan, India and Nepal (BBIN) signed the BBIN Motor Vehicles Agreement (MVA) for regulating and enabling passenger, personal and cargo vehicle cross border traffic in the four countries on 15th June, 2015 at Thimphu in Bhutan. This agreement will reduce cost and time consuming process and procedures as at present and make cross border trade and transport in and through the North-East region of India to and from Bangladesh, Bhutan and Nepal more efficient. It will help enhance people to people contact, trade and regional integration.

The BBIN MVA will enter into force on its ratification and issue of notifications by all the four countries.

Negotiations for finalizing a similar Motor Vehicles Agreement among India, Myanmar and Thailand (IMT) for enhanced regional connectivity through road transportation have been held and consensus on the text of the MVA evolved by the three countries. For finalizing the text of Protocol and its Schedules which would be part of the IMT MVA, negotiations are required to be concluded among the three countries. Tentatively, the three countries have agreed during IMT Transport Secretary level meeting on 13-14th July, 2015 that the IMT MVA can be signed during a Transport Ministers' meeting of three countries in Myanmar in November 2015 by when the respective country Governments would complete their internal approval process. This agreement will facilitate movement of cargo and passengers (including personal vehicles) on the India-Myanmar-Thailand road corridor, enhancing intra-regional and inter-regional trade and commerce in South Eastern Asia. There is no proposal at present for signing a separate MVA with Sri Lanka.

Powered by Capital Market - Live News

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Aug 07 2015 | 9:22 AM IST

Next Story