India along with countries under Bay of Bengal Initiative for multi-sectoral technical and economic cooperation grouping are forming an agreement for promoting mutual maritime trade. The framework of the agreement will be on similar lines as the Indo-Bangladesh Protocol Agreement and will include all kinds of cargo and ports servicing them in the BIMSTEC nations, informed Mr. Amitabh Kumar, Director General of Shipping.
The BIMSTEC group comprises of Bangladesh, Bhutan, India, Nepal, Myanmar, Sri Lanka and Thailand. The agreement will cover all kinds of cargo and ports related to BIMSTEC countries and will provide benefits like concession in port dues and other services at par with domestic vessels for cargo operating among these countries, revealed Director General of Shipping. The agreement also includes not just exim cargo but also transhipment cargo that can be moved using the ports to other countries.
Under the Indo-Bangladesh Protocol agreement, inland vessels of one country can transit through the specified routes of the other country undertaking transport of goods and raw materials and ports of call have been designated in both India and Bangladesh along with streamlined custom formalities.
Similar arrangements are being proposed between India and Myanmar and a new coastal voyage agreement has been proposed between India, Indonesia, Malaysia and Thailand, added Mr. Amitabh Kumar.
