UN Tribunal, Permanent Court of Arbitration (PCA) on 8 July 2014 ruled on the Indo-Bangladesh maritime border dispute of the Bay of Bengal.
The court has awarded 19467 square kilometers, a major part of disputed area to Bangladesh from a total disputed area of 25602 square kilometers.
The Verdict was binding on both countries that will open the way for Bangladesh to explore for oil and gas in the Bay of Bengal. Both the Countries accepted the ruling and described that the ruling paved the way for greater economic cooperation of the Bay of the Bengal.
This verdict brings an end to the arbitration process of Bangladesh, started in 2009 under the UN Convention on the Law of the Sea (UNCLOS), over disputes with Myanmar and India. The argument focussed on issues including the location of the land boundary terminus, delimitation of the territorial sea, exclusive economic zone, and the continental shelf within and beyond 200 nautical miles.
The Myanmar dispute was settled in 2012 after arbitration at the International Tribunal on the Law of the Sea in Hamburg, Germany.
The dispute had hampered the economic development of both countries for more than 30 years. Now the area will be open to exploit the undersea resources and to develop the fishing industry.
About Permanent Court Of Arbitration
The PCA is an intergovernmental organization was established in 1899 in The Hague, Netherlands. It was established to facilitate arbitration and other forms of dispute resolution between states. It provides services for the resolution of disputes involving various combinations of states, state entities, intergovernmental organizations, and private parties.
When: 8 July 2014