Bbin Motor Vehicle Agreement News

A meeting of officials in New Delhi discussed passenger and cargo protocols that will implement the agreement to regulate passenger, passenger and cargo traffic between the four countries, signed in June 2015, the Foreign Ministry said in a statement. They met last week in New Delhi to discuss a draft moU (Memorandum of Understanding) between Bangladesh, India and Nepal to implement the BBIN MVA, with no obligation to Bhutan. This opens a new era of neighbourhood cooperation in this subregion. They reaffirmed their understanding that BBIN MVA protects the rights and obligations of all parties under other international and bilateral agreements within the Group. The initiative was undermined in November 2016, when Bhutan withdrew from the BBIN process, as the agreement fought hard domesticy, including over fears of vehicle pollution and environmental degradation. The BBIN MVA can be a game changer for neighborhood cooperation. For the first time, these countries have decided to exchange their traffic rights and offer transit of freight cars and passenger cars within and across international borders. The primary objective is to develop functional transport corridors and then transform them into economic corridors. These economic corridors should play a crucial role in strengthening existing value chains and creating new value chains. Bangladesh approved the draft ”memorandum of understanding” prepared by India, but Nepal did not agree, the newspaper official said. B2B Cargo itineraries are not included in BBIN. Handling will remain the cheapest mode of transport compared to transit.

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