Union Cabinet meet chaired by Prime Minister Narendra Modi has approved the signing of Bangladesh, Bhutan, India and Nepal (BBIN) Motor Vehicle Agreement.
The agreement which is similar to the SAARC Motor Vehicle Agreement (MVA) seeks to regulate the vehicular traffic of passenger, personal and cargo amongst BBIN countries.The agreement will be signed on 15th June 2015 at the Transport Minister’s meeting in Thimpu, Bhutan.
BBIN agreement aims to promote safe, environmentally sound and economical efficient road transport in the sub-region of BBIN. It also seeks to help each member country to create an institutional mechanism for regional integration.
BBIN agreement will benefit member nations for mutual cross border movement of passenger and goods for overall economic development of the region.
For implementation of this agreement each signatory member will bear its own costs.