India, Bangladesh, Bhutan and Nepal will sign a historic regional motor vehicle pact on 15th June 2015 in the Bhutanese capital Thimphu. The BBIN Motor Vehicles Agreement will make lucid transportation of both people and goods among the four SAARC member countries.
Points to Remember:
- The BBIN agreement is expected to help revive the stalled South Asian Association for Regional Cooperation motor vehicles agreement, which was approved during the SAARC Summit in November, 2014.
- The signing of the BBIN would promote safe, economical, efficient and environmentally sound road transport in the region.
- It would further help each country in creating an institutional mechanism for regional integration.
- Each party will bear its own costs arising from implementation of this agreement.
- A meeting of Secretaries of Transport of the BBIN countries was organised in February 2015 to discuss and finalise the draft of the BBIN pact.
- The transport ministers of the four countries will sign the pact.
