BBIN nations deliberated on MoU to implement Motor Vehicle Agreement
On February 8, 2020, the BBIN (Bangladesh, Bhutan, India and Nepal) nations deliberated MoU (Memorandum of Understanding) to implement the Motor Vehicle Agreement to regulate personal, passenger and cargo vehicular traffic.
Highlights
The meeting discussed on cargo and protocols to regulate passenger and cargo services. Bhutan attended the meeting as an observatory nation. The regulation was signed on June 15, 2015. The agreement was delayed as Bhutan being a carbon negative country did not ratify it.
Current Scenario
The other three countries Nepal, Bangladesh and India are to go ahead on implementing the agreement with Bhutan as an observer. The agreement facilitates road transport and discusses various aspects of draft protocol to move the cargo vehicles. The agreement will aid India in implementing its Neighbourhood First Policy.
Funds
The financial support to implement BBIN Motor Vehicular Agreement is being funded by Asian development Bank. The bank provides advisory, technical and financial support to the BBIN MVA initiative.
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Month: Current Affairs - February, 2020