New Delhi, June 11: The Cabinet has approved signing of the Bangladesh, Bhutan, India and Nepal (BBIN) Motor Vehicle Agreement for the Regulation of Passenger, Personal and Cargo Vehicular Traffic amongst BBIN.
"Union Minister of Road Transport & Highways and Shipping Nitin Gadkari will visit Bhutan from June 14 to sign the landmark BBIN at the BBIN transport minister's meeting to be held in Thimpu, Bhutan", said a statement issued by the government.
The agreement will promote safe, economical efficient and environmentally sound road transport in the sub-region and will further help each country in creating an institutional mechanism for regional integration.
BBIN countries will be benefited by mutual cross border movement of passenger and goods for overall economic development of the region. The people of the four countries will benefit through seamless movement of goods and passenger across borders.
Each party will bear its own costs arising from implementation of this agreement.
A meeting of Secretaries of Transport of the BBIN countries was organized by the Ministry of Road Transport and Highway (MoRTH) in February 2015 to discuss and finalize the text of the draft BBIN Motor Vehicles Agreement, which is similar to the SAARC Motor Vehicle Agreement (MVA) draft with minor changes.