Bangladesh-Bhutan-India-Nepal Motor Vehicles Agreement

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Professor Dr. Atiur Rahman, former Governor of Bangladesh Bank highlighted on the need for mobilization of finance, both from traditional and new sources, encouraging greater number of Public-Private- Partnership initiatives, harmonization of the standards and practices, preparation of protocols and strengthening of institutions to enhance trade facilitation for smooth implementation of the BBIN MVA.This particular Agreement if implemented with right earnest will yield huge prosperity for all the people of the region, he argued. He also cautioned about the challenges like security concerns, coordination of in-country stakeholders, alignment with national policy, land acquisition problems and use of state of the art ICT in tracking of vehicles and online customs clearance. All this need necessary preparations and policy engagements during the early phase of implementation of the Agreement. He also asked for greater engagement of the civil society including private sector actors in facilitating better implementation of the Agreement. Dr. Rahman also reminded about the dramatic fall of the cost of doing business in the region if this Agreement gets going. He also indicated how four think-tanks of the region under the leadership of CUTS International will work closely with the relevant government agencies, private sector stakeholders and the final beneficiaries i.e. the people who will share the prosperity once there is seamless road-connectivity in the region.

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