SAARC Motor Vehicle Agreement to ease cross border trade
The Dollar Business Bureau According to an official release from Ministry of Road Transport & Highways, four countries belonging to South Asian Association for Regional Cooperation (SAARC) on Thursday finalized an agreement that would facilitate their cross-border trade. India, Bangladesh, Bhutan and Nepal, in a meeting from between February 2-3, 2015, at Raichak near Kolkata, discussed Motor Vehicle Agreement (MAV), under which the countries agreed for a seamless transit of passenger and cargo vehicles between their countries and draw up plans for its speedy implementation. This agreement, which has been prevalent in European countries, would allow the passenger, personnel and cargo vehicles of these countries, travel in designated key routes avoiding trans-shipment of goods and passengers at the border ...
