Current Affairs

UPSC BBIN MOTOR VEHICLES AGREEMENT - English

BBIN MOTOR VEHICLES AGREEMENT

Why in News?

Recently, India, Bangladesh and Nepal finalised an enabling memorandum of understanding (MoU) for implementing the long-gestating Bangladesh-Bhutan-India-Nepal (BBIN) Motor Vehicles Agreement (MVA).

About

• The project was conceived after the South Asian Association for Regional Cooperation (SAARC) failed to agree on a regional motor vehicles agreement at a summit in Nepal in 2014, mainly because of opposition from Pakistan.
• The BBIN Motor Vehicle Agreement for the Regulation of Passenger, Personal and Cargo Vehicular Traffic between the 4 countries was signed during a transport ministers’ meeting in Thimpu on 15th June 2015.
• Operationalising the MVA by concluding the Passenger and the Cargo Protocol will help realise the full potential of trade and people to people connectivity between the BBIN countries by fostering greater sub-regional cooperation.
• The Asian Development Bank has supported the project as part of its South Asian Subregional Economic Cooperation programme, and has been requested to prioritise about 30 road projects worth billions of dollars.
• The World Bank, which has estimated that the implementation of the MVA will potentially see an increase in traffic-regional trade within South Asia by nearly 60%, has also announced its interest in supporting infrastructure.

Others Connectivity Initiatives which India is a part of

• 1. Bangladesh-China-India-Myanmar (BCIM) Corridor
• 2. India-Myanmar-Thailand Trilateral Highway
• 3. Kaladan Multi-Modal Transit Transport (KMMTT)

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