In its unfailing quest to ensure hassle free transport facilities among its neighboring countries including Bangladesh, Bhutan, India and Nepal (BBIN), India has set in motion the process of building yet another mega road project entailing a whopping investment worth $8 billion. In this connection, these countries will ink Motor Vehicle Agreement (MVA) very shortly.
Apart from this, it is also in the process of entering into another landmark motor pact with Myanmar and Thailand on the lines of the one signed with three other SAARC nations to allow seamless flow of traffic among them, Union Minister Nitin Gadkari said, adding that the move will not just inject trading relationship but will also initiate the process of economic activities thereby lifting the economic status of the residents of these nations.
As a matter of fact, the inking of the BBIN agreement recently may be seen in the larger context of similar agreement between the sub region and ASEAN countries. The mega road project will enable seamless transit of passenger, cargo and vehicles among India, Myanmar and Thailand, paving the way for greater economic cooperation in the ASEAN region. Elaborating further he said that a meeting to work out modalities for formulating the agreement protocol is slated to be held in Thailand next month and that it is expected that IMT arrangement will also be in place by December this year, he claimed.