BBIN countries agree on quick implementation of MVA

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News:Bangladesh, Bhutan, India, and Nepal(BBIN) have held a meeting to finalize the Passenger and Cargo Protocols for implementation of the BBIN Motor Vehicles Agreement(MVA).

Facts:

About BBIN:

  • Bangladesh,Bhutan,India and Nepal had signed a framework Motor Vehicles Agreement (MVA)in June 2015.
  • Aim:To provide seamless people-to-people contact and enhance economic interaction by facilitating cross border movement of people and goods.
  • However,Bhutan has not yet ratified the pact for its entry to come into force.But it has provided its consent for the entry into force of the MVA among Bangladesh, India and Nepal without obligation to Bhutan.

Significance of BBIN:

  • It would permit unhindered movement of passenger and cargo vehicles among the four countries. 
  • It will promote safe, economical efficient and environmentally sound road transport in the sub-region and will further help each country in creating an institutional mechanism for regional integration.