India inks landmark motor pact with 3 SAARC nations

June 15, 2015 15:50

India today signed a major motor vehicles pact with three SAARC nations -- Bhutan, Bangladesh and Nepal -- that will enable seamless transit of passenger and cargo vehicles among them.

A similar pact is on the anvil among India, Myanmar and Thailand that will pave the way for greater economic cooperation in the Asian region.

Road Transport and Highways Minister Nitin Gadkari today signed the Bangladesh, Bhutan, India and Nepal (BBIN) Motor Vehicle Agreement (MVA) for Regulation of Passenger, Personal and Cargo Vehicular Traffic along with transport ministers of the other three nations at Bhutan's capital Thimpu.

Besides, in a major breakthrough, India, Myanmar and Thailand have agreed to develop a similar motor vehicle pact on the lines of the draft SAARC Motor vehicle agreement.

The BBIN MVA will not only reduce transport costs, but also foster development of multi-modal transport and transit facilities, enabling increased connectivity and promotion of greater trade between the four countries.

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