Union Cabinet approved Agreement on Coastal and Maritime Shipping between India and Bangladesh

Jun 1, 2015 10:00 IST

The Union Cabinet on 30 May 2015 gave its approval to the Agreement on Coastal and Maritime Shipping between India and Bangladesh that paves the way for the commencement of coastal shipping between the two countries.

Features of the Agreement on Coastal and Maritime Shipping
• India and Bangladesh shall render the same treatment to the other country’s vessels as it would have done to its national vessels used in international sea transportation.
• The River Sea Vessel (RSV) category of vessel is prescribed for coastal shipping to lower construction and operation cost without compromising on the safety of the vessel.

Importance of the Agreement
• EXIM (Export Import) trade between India and Bangladesh (India’s largest trading partner in South Asia) would be benefited by way of reduction in freight charges.
• It will improve the utilization of port capacities of Indian ports and open up new opportunity for Indian coastal vessels.
• It will help in decongestion of roads especially at the Land custom stations or integrated check posts at the Indo-Bangladesh boarder.
• The Indian ports serving as transshipment ports for Bangladesh cargo will derive benefits by way of enhanced throughput as a result of Indo-Bangladesh coastal trade.
• It will increase bilateral trade between the two countries and lower down the cost of transportation of EXIM cargo.

Now get latest Current Affairs on mobile, Download # 1 Current Affairs App

Is this article important for exams ? Yes14 People Agreed

DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

Latest Videos

Register to get FREE updates

    All Fields Mandatory
  • (Ex:9123456789)
  • Please Select Your Interest
  • Please specify

  • ajax-loader
  • A verifcation code has been sent to
    your mobile number

    Please enter the verification code below

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK