Motor Vehicle Agreement to be signed between four SAARC nations in July

The Dollar Business Bureau In a move to boost trade, SAARC members Bangladesh, Bhutan, India and Nepal are all set to sign a Motor Vehicle Agreement (MVA) called Bangladesh Bhutan India Nepal (BBIN MVA). Expected to be signed on July 15 by the Indian Minister for Road Transport and Highways Nitin Gadkari and his counterparts in Bhutan, Nepal and Bangladesh, the agreement is expected to provide seamless transit of passenger and cargo vehicles between the countries, thereby, making cross-border trade cost efficient. Once implemented, the agreement is expected to regulate passenger and cargo vehicular traffic between the four nations by reducing complexities and allowing the timely loading and unloading of goods at border crossing points. Finalised at a meeting of the transport secretaries of the four countries in February, the agreement has provisions to include all other SAARC nations, but has already been rejected by Pakistan.      

May 27, 2015 | 8:02 pm IST.