India and Bangladesh Agree on Extension of Protocol on Inland Water Transit and Trade

Image
Capital Market
Last Updated : Apr 22 2015 | 11:13 AM IST
India and Bangladesh have agreed on the extension of Protocol on Inland Water Transit and Trade (PIWTT) with the provision of automatic renewal in line with the proposed amendment to the Bangladesh-India trade agreement during a Secretary-level talk between the two countries held here on April 20. With regard to development of entire protocol route under regional IDA assistance of World Bank, Bangladesh side while welcoming the proposal agreed to revert after obtaining approval of the concerned Authority of Bangladesh. It was also agreed between the two countries that a draft agreement for the regular movement of passenger and cruise vessels would be shared by India with Bangladesh through diplomatic channel.

The issue relating to inclusion of Pangaon container terminal (ICT) in Bangladesh as a Port of Call was discussed and Bangladesh side informed that the Pangaon (ICT) with two other ICT in Bangladesh may be used as a Port of Call by cargo vessel operator. Bangladesh side requested that Farraka and Bandel on National Waterway (NW) - 1 may be declared as Port of Call. Indian side, while agreeing on the reciprocity, mentioned that on Farraka it would revert after internal consultations. With regard to commencement of the Coastal Shipping, a draft agreement on coastal shipping was initialed by both the countries. It was also agreed to finalize the Standard Operating Procedures (SOP) in about two months time. On cooperation on Light House and marine training, India offered to extend training to the personnel in Bangladesh.

The Indian delegation was led by Shri Rajive Kumar, Secretary, Ministry of Shipping, while the Bangladesh delegation was led by Mr. Shafiq Alam Mehdi, Secretary, Ministry of Shipping, Government of Bangladesh. Both the sides were confident that the deliberations would go a long way in the development of inland water transport and coastal shipping for enhancing connectivity and trade and commerce between the two countries.

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: Apr 22 2015 | 9:41 AM IST

Next Story