[🇧🇩] BBIN MVA--- Bangladesh-Bhutan-India-Nepal Motor Vehicles Agreement

[Saif]

Direct bus service between Bangladesh and Nepal comences.

 

[Amata]

I concur! India is the greatest impediment to regional trade. They need to open up their market for other regional countries first. Creating trade imbalance and using it as a political tool against her neighbors is what India has been doing in South Asia.

This viewpoint oversimplifies complex regional dynamics. Trade issues involve multiple factors, not solely India's actions. Dialogue and cooperation are crucial for addressing concerns and fostering balanced trade relations in South Asia.nrega job card list

 

[Saif]

Bangladesh prioritises executing transit, PTA with Bhutan, Nepal

Signing and executing transit-and preferential-trade deals with Bhutan and Nepal gets top priority from Bangladesh at upcoming cooperation talks with the two Himalayan nations, officials say. With Bhutan Bangladesh has already got transit deal and Preferential Trade Agreement (PTA), and Dhaka now

thefinancialexpress.com.bd

Bangladesh prioritises executing transit, PTA with Bhutan, Nepal​

Preparations rife for April meetings of commerce secretaries​

FE REPORT
Published :​

Mar 22, 2024 00:28

Updated :​

Mar 22, 2024 00:28

Signing and executing transit-and preferential-trade deals with Bhutan and Nepal gets top priority from Bangladesh at upcoming cooperation talks with the two Himalayan nations, officials say.

With Bhutan Bangladesh has already got transit deal and Preferential Trade Agreement (PTA), and Dhaka now presses ahead doing spadework for operational modus operandi to be declared from April talks.

"Removal of tariff-and non-tariff barriers to trade and various bilateral and regional issues will also be discussed in the two meetings," says one commerce official.

The seventh Bangladesh-Nepal commerce secretaries' meeting is slated for April 18-19 in Kathmandu. There, the two sides may finalise the list of products for the PTA and discuss the possibility of signing the agreement.

In the meantime, Bangladesh and Bhutan signed the 'Agreement on the Movement of Traffic-in-Transit and Protocol' in March 2023. Bangladesh's Cabinet Division ratified the deal in June 2023, and Bhutan proposed its implementation from March 2024.

However, officials have said, the unresolved issue of transit fees remains a sticking point.

The Ministry of Commerce has recently requested the Road Transport and Highways Division to expedite the fixing of these fees to facilitate the operationalisation of the deal.

Also, officials stressed trial runs of vehicles before regular operations commence. Besides, routes for cargo transit have yet to be determined.

Officials have said the April 24-25 commerce secretary-level meeting with Bhutan will focus on working out operational procedures for the transit agreement.

Moreover, the meeting will review the effectiveness of the Bangladesh-Bhutan PTA, signed in December 2020 and given effect in July 2022.

This will be the first bilateral commerce secretary-level meeting since the signing of both the PTA and the transit deal.

In recent years, Bangladesh has offered both Nepal and Bhutan access to its seaports and airports for their international trade. Officials have confirmed that Nepal has already used Mongla port for some import cargos.

Bangladesh also has given transit facilities to its next-door-neighbour India with which there rail, road and water connectivity apart from air links.

And all four nations have sub-regional cooperation deals on trade and trans-border vehicle movements.​

 

[Saif]

This viewpoint oversimplifies complex regional dynamics. Trade issues involve multiple factors, not solely India's actions. Dialogue and cooperation are crucial for addressing concerns and fostering balanced trade relations in South Asia.nrega job card list

No amount of dialogue could stop India from creating trade imbalance with her neighboring countries in the past. What makes you think more dialogues would bring better results in the future?

 

[Amata]

Acknowledging the complexities of trade dynamics in South Asia is essential. Blaming solely India overlooks the multifaceted nature of trade issues. Dialogue and collaboration are imperative for cultivating balanced trade relations in the region.PM KISAN

 

[Saif]

ICCB terms ‘BBIN agreement’ as catalyst for economic growth

The International Chamber of Commerce, Bangladesh has termed the BBIN or Bangladesh, Bhutan, India and Nepal agreement as a catalyst for economic growth and development...

www.newagebd.net

ICCB terms ‘BBIN agreement’ as catalyst for economic growth
Bangladesh Sangbad Sangstha . Dhaka 22 August, 2024, 22:58

The International Chamber of Commerce, Bangladesh has termed the BBIN or Bangladesh, Bhutan, India and Nepal agreement as a catalyst for economic growth and development.

The BBIN initiative, officially launched in 2015, was created to tackle the logistical and economic challenges that have historically hindered South Asia’s development, according to the editorial of the current News Bulletin (April-June’ 2024 issue) of International Chamber of Commerce-Bangladesh released on Thursday.

A key objective of the initiative is to strengthen economic collaboration. By streamlining the cross-border flow of goods and services, the initiative can greatly lower transportation expenses and reduce transit durations.

This is especially important for landlocked nations such as Bhutan and Nepal, which depend heavily on neighbouring countries for access to global markets. Improved connectivity can facilitate trade, investment, boost regional tourism, and create jobs, all of which will contribute to the economic growth of the region.

Bangladesh, India, and Nepal have ratified the 2015 Agreement, but Bhutan has not yet done so, mainly because of environmental concerns and infrastructure issues. However, Bhutan’s recent participation in meetings as an observer suggests a possible interest in re-joining the initiative.

A key component of the BBIN initiative is the BBIN Motor Vehicles Agreement or MVA, signed in 2015, which is designed to facilitate smooth cross-border vehicle movement and eliminate significant trade obstacles, such as complex border checks and inconsistent customs procedures that have historically impeded trade efficiency. By streamlining these processes, the BBIN agreement can expand market access, diversify trade, lower costs, and enhance competitiveness.

The TIR Convention (1975), the only global transit system, simplifies and secures international goods transport by guaranteeing customs duties and taxes. With 76 Contracting Parties, including China, India and Pakistan, it offers a reliable method for cross-border trade while protecting countries’ revenues.

Bangladesh plays a key role in initiatives like the BBIN MVA, BCIM Corridor and BIMSTEC, aimed at expanding market access and fostering economic growth. The TIR system will strengthen regional integration and boost Bangladesh’s access to global markets.

The BBIN sub-region faces high trade costs due to poor infrastructure and logistics. A CUTS analysis of GDP and trade from 2010 to 2019 shows a positive link between the two. In 2010, interregional trade was $6 billion with a GDP of $1.7 trillion. By 2019, trade increased to $16 billion, and GDP nearly doubled to $3.2 trillion, making the BBIN one of the fastest-growing regions globally.

Due to its strategic location, Bangladesh could become a key transit route for trade between northeast India and the rest of India, as well as provide better port access for Bhutan and Nepal. If integration occurs, CUTS International estimates the region’s combined GDP could surpass $8.3 trillion by 2035.

As of August 2020, the Asian Development Bank has invested over $15 billion through the SASEC programme in transport, energy, trade, economic corridors, and ICT to enhance connectivity.

Given the significant investments in infrastructure, it’s crucial for all countries to take decisive action to implement the BBIN and MVA Agreements. Bangladesh, Bhutan, and Nepal should also join the TIR Convention to improve port access for landlocked Nepal and Bhutan and facilitate cross-border vehicle movement.​