The Bangladesh, Bhutan, India, Nepal Motor Vehicles Agreement (BBIN MVA) would boost the economy of these countries, according to experts who attended a seminar in Dhaka.
Strongly supporting the BBIN MVA at the seminar on Wednesday, the experts reiterated that while the framework agreement for this initiative was signed in June 2015, it is still to be implemented owing to a number of challenges like lack of adequate infrastructure, differences in regulations and trust deficit among its signatories, a statement said on Thursday.
"Coupled with the basic dearth, cumbersome paperwork involved in doing border clearance is causing traffic congestion at border posts," it said.
This regional policy dialogue centred on the BBIN MVA was organised Bangladesh NGO Unnayan Shamannay jointly with Bhutan Media and Communications Institute, Nepal Economic Forum and research and advocacy group CUTS International with support of the US State Department .
The execution of the BBIN MVA is expected to commence from early next year. The BBIN Motor Vehicles Agreement, signed by the four countries aims to facilitate movement of passengers and cargo between these countries.
As the Northeastern states share 5,437 km of international boundaries with Bangladesh (1,880 km), China (1,300), Myanmar (1,643 km), Bhutan (516 km) and Nepal (98 km), India's mountainous regions would be benefit after implementation of the BBIN MVA.
CUTS International Executive Director Bipul Chatterjee said: "While the BBIN MVA will directly and indirectly benefit the economies of these countries, there is an imperative to look beyond the agenda of building roads and simple exchange of traffic rights. It should be enabled with appropriate regulatory, financial and digital connectivity among individuals, businesses and government if we are to unlock the true potential of their economic integration with each other."
Leading Bangladeshi NGO Unnayan Shamannay Chairman and former Governor of Bangladesh Bank Atiur Rahman said: "Bangladesh has always been in favour of opening of regionalism and the present political equations among the governments of these countries are conducive towards an effective implementation of the BBIN MVA."
Pete Gauthier, Private Enterprise Officer at the Economic Growth Office of the U.S. Agency for International Development, Bangladesh stated that any sub-regional cooperation should always look at how to create a win-win situation for all stakeholders involved and hence should aim at growing the pie instead of splitting it.
Bangladessh Parliament member and President of the Bangladesh Women Chamber of Commerce and Industry, Selima Ahmed, emphasised the need for developing women-friendly policies and infrastructure to encourage more women's participation in trade once the BBIN MVA comes into effect.
"There should be clarity among policymakers on why a policy has been framed. There is no point improving border infrastructure if countries keep resorting to various trade restrictive measures", said Policy Research Institute of Bangladesh Research Director Mohammad Razzaque.
the importance of multi-modal connectivity to avoid congestion at border crossings, the need for setting up inland container depots, use of railways, waterways and airways as alternate modes of transportation were highlighted during the discussions.
Over 40 participants comprising government officials, policy experts, civil society representatives and media personnel participated in this day-long deliberation.
The participants also underlined the importance of using new technologies to develop an online trade facilitation platform and an appropriate risk management system to facilitate faster cargo clearance at border crossings.
PM Modi urges people to not get upset with 'insulting language' used against him by Congress
PM Modi mentioned that Congress is indulging in different games to get the chair anyhow by playing with the future of people.
Treating politician differently from ordinary criminal will violate Constitution: ED tells SC on CM Kejriwal's plea
The ED claimed that the investigation of the Excise policy case has to be seen as the background of the large-scale destruction of evidence.
EC sends notice to Cong over poll code violation by Rahul Gandhi, seeks reply by April 29
The Election Commission has taken note of alleged violations of the model code of conduct by Congress leader Rahul Gandhi, and on Thursday sought a response from the party.
Congress tied hands of our soldiers, we gave them full freedom to retaliate: PM Modi
"We have asked our jawans to fire 10 bullets in response to one," said PM Modi while addressing a rally in the Chambal region of Morena.
First time after resettlement, 10248 Brus in North Tripura to cast vote on April 26
First time after the official resettlement, at least 10248 Brus in North Tripura district will cast their vote on April 26 to decide the fate of candidates for East Tripura Parliamentary Constituency.
Woman kidnapped, gang-raped in Bengaluru, five arrested
In a shocking case, a 23-year-old woman was kidnapped and gang-raped in Bengaluru, said police on Thursday, adding that five accused have been arrested.
Mahadev betting scam: Actress Tamannaah Bhatia summoned by Maha Police
Bollywood actress Tamannaah Bhatia has been summoned by the Maharashtra Cyber Police for the ongoing investigations into the multi-crore Mahadev online gambling and betting scam, officials here said on Thursday.
IAF's remotely piloted aircraft crashes in Jaisalmer, probe ordered
An Indian Air Force aircraft crashed in Jajia village near Jaisalmer in Rajasthan, confirmed officials here.