Q. Consider the following statements about BBIN MVA:
1. Nepal has decided to continue to stay out of the BBIN MVA.
2. BBIN MVA initiative is being assisted by the South Asia Sub-regional Economic Cooperation (SASEC) program of World Bank.
Which of the statements given above is/are correct?
About the BBIN MVA
Bangladesh, Bhutan, India and Nepal (BBIN) had signed the Motor Vehicles Agreement (MVA) in 2015 at Thimphu, Bhutan. Its aims is to provide seamless people-to-people contact and enhance economic interaction by facilitating cross border movement of people and goods. As per the agreement, member countries would allow vehicles registered in the other countries to enter their territory under certain terms and conditions. Customs and tariffs will be decided by the respective countries and these would be finalized at bilateral and trilateral forums. The Asian Development Bank (ADB) has been providing support to the BBIN MVA initiative as part of its assistance to the South Asia Sub-bregional Economic Cooperation (SASEC) program. Bhutan has decided to continue to stay out of the BBIN MVA.
Source: EPIC March 2022
