Search Result for : Bhutan

The Dollar Business Bureau A new trade agreement between India and Bhutan has come into force from July 29. This was signed between the two countries on November 12, 2016. The move will further strengthen the bilateral trade ties between India and Bhutan an official communique read. ‘The agreement provides for a free trade regime between the countries and it also gives duty free transit of Bhutanese goods for trade with third countries,’ the Indian commerce ministry said in a statement. The bilateral trade relations are governed by this agreement. Renewal of this agreement was done on July 29, 2006 for ten years with its validity gaining an extension of a year on July 29, 2016, or till the new agreement comes into force. Bilateral ...

PTI Bhutan has announced that it would not be able to ratify the Bangladesh, Bhutan, India, Nepal motor vehicles agreement for the time being and asked the other stakeholders to go ahead with the plan without it. "While the other three countries have already ratified the agreement, the Royal Government of Bhutan is in the process of completing its internal procedures for ratification, to address the concerns raised by the domestic stakeholders," a Foreign Ministry statement said yesterday. To facilitate the early implementation of the Bangladesh, Bhutan, India, Nepal Motor Vehicles Agreement (BBIN MVA), the Bhutan government has decided to give its consent for the entry into force of the agreement among the three member states without any obligation to it, the ...

The Dollar Business Bureau The South Asia Subregional Economic Cooperation (SASEC) family congregated in New Delhi on April 3, 2017, to deliberate upon a new direction for sub-regional economic cooperation among the member countries. During the meet, the finance ministers collectively agreed that enhanced regional cooperation could add $70 billion to their combined GDP and generate 20 million employment opportunities annually by 2025. The SASEC initiative was founded in 2001, with India, Nepal, Bhutan and Bangladesh as member nations. Over the years, the regional group has grown to include Sri Lanka, Maldives and Myanmar. A joint ministerial statement released after the summit recognised the importance of regional co-operation to boost economic growth in South-Asia, especially in times of slow global growth. Additionally, it also reviewed the progress of SASEC over the past 16 ...

The Dollar Business Bureau  The government on Thursday approved the new agreement between India and Bhutan on Trade, Commerce and Transit, as stated in the official release, “the Union Cabinet, chaired by the Prime Minister Narendra Modi, has approved an Agreement on Trade, Commerce and Transit between India and Bhutan.” The bilateral trade ties between the governments of India and Bhutan are governed by this agreement, which provides for a free trade regime between the two countries. This agreement also provides for a duty-free transportation of Bhutanese goods for trade with other countries. The agreement on Trade, Commerce and Transit with Bhutan was renewed on July 29, 2006 for a period of 10 years. The validity of the agreement was further extended for a period of one ...

The Dollar Business Bureau India received Foreign Direct Investment (FDI) of up to $19.78 billion from 12 countries visited by Prime Minister Narendra Modi during the financial year 2014-15. Modi visited Bhutan, Brazil, Nepal, Japan, the US, Myanmar, Australia, Fiji, Seychelles, Mauritius, Sri Lanka and Singapore after he took charge in May last year. According to Commerce and Industry Minister Nirmala Sitharaman, overseas investment through FDI reached $30.93 billion, registering an increase by 27% during 2014-15. Of the total inflow, $19.78 billion came from countries visited by the Prime Minister. At the same time, $3.42 billion was invested by the Indian companies in these countries, the government data revealed. “The total outflow and inflow of foreign investment in general for 2014-15 fiscal ...

Source: PIB, Government of India The Union Minister for Road Transport & Highways and Shipping, Nitin Gadkari (extreme right) with the Minister of Road Transport and Bridges, Bangladesh, Obaidul Quader, the Minister of Information and Communications, Bhutan, Lyonpo D N Dhungyel and the Minister of Physical Infrastructure and Transport, Nepal, Bimalendra Nidhi on the occasion of signing of the Motor Vehicles Agreement for the Regulation of Passenger, Personal and Cargo Vehicular Traffic between Bangladesh, Bhutan, India and Nepal, in Thimphu, Bhutan on June 15, 2015. Source: PIB, Government of India   India, Nepal, Bhutan and Bangladesh signed a landmark Motor Vehicles Agreement (MVA) for the regulation of passenger, personnel and cargo vehicular traffic among the four South Asian neighbours in Thimpu, ...

Source: PIB, Government of India The Cabinet has approved signing of the Bangladesh, Bhutan, India and Nepal (BBIN) Motor Vehicle Agreement for the Regulation of Passenger, Personal and Cargo Vehicular Traffic amongst BBIN. The agreement will be signed on June 15, 2015 at the BBIN Transport Minister’s meeting in Thimpu, Bhutan. Signing of the BBIN agreement 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. BBIN countries will be benefited by mutual cross border movement of passenger and goods for overall economic development of the region. The people of the four countries will benefit through seamless movement of goods and passenger across borders. Each Party ...

 The Dollar Business Bureau The Government of India (GoI), on Thursday, entered into a loan agreement with the Asia Development Bank (ADB) for improving domestic and regional trade along the North Bengal (NB)-North Eastern (NE) Region. The loan, being the first move under a $500 million multi-tranche South Asian Sub-regional Economic Cooperation (SASEC) Road Connectivity Investment Program, aims at constructing roads covering 500 kms along the NB-NE region. Speaking on the occasion, Tarun Bajaj, Joint Secretary, Department of Economic Affairs, Ministry of Finance, GoI, said, that ‘besides the road connectivity, the project will also improve  the efficiency of international trade corridors by expanding roads in the region.’ The investment on the ‘last mile’ connectivity will also help in achieving the ...