Union Cabinet gives nod to Bangladesh, Bhutan, India and Nepal (BBIN) Motor Vehicle Agreement
Union Cabinet meet chaired by Prime Minister Narendra Modi has approved the signing of Bangladesh, Bhutan, India and Nepal (BBIN) Motor Vehicle Agreement.
The agreement which is similar to the SAARC Motor Vehicle Agreement (MVA) seeks to regulate the vehicular traffic of passenger, personal and cargo amongst BBIN countries.
The agreement will be signed on 15th June 2015 at the Transport Minister’s meeting in Thimpu, Bhutan.
Key Facts
- BBIN agreement aims to promote safe, environmentally sound and economical efficient road transport in the sub-region of BBIN.
- It also seeks to help each member country to create an institutional mechanism for regional integration.
- BBIN agreement will benefit member nations for mutual cross border movement of passenger and goods for overall economic development of the region.
- For implementation of this agreement each signatory member will bear its own costs.
Background
- During the 18th SAARC Summit held in Kathmandu, Nepal SAARC MVA was not able to signed due to reservations of Pakistan.
- However, the SAARC declaration at the 18th Summit had encouraged Member States to initiate regional and sub-regional measures to enhance connectivity.
- In line with this declaration, BBIN Motor Vehicle Agreement was pursued among four SAARC members.
- Draft of this agreement was finalized in February 2015 in the meeting of Secretaries of Transport of the BBIN countries which was organized by the Ministry of Road Transport and Highway (MoRTH).
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Month: Current Affairs - June, 2015