JOIN USAhead of Prime Minister Narendra Modi's visit to Bangladesh, the Centre on Saturday approved an agreement on coastal shipping between India and the neighbouring country for cheaper cargo movements between them.
“The Union Cabinet, chaired by Prime Minister Narendra Modi, has given its approval to the agreement on coastal shipping between India and Bangladesh to carry out coastal movement of goods between the two countries,” said an official statement.
The agreement will help reduce freight charges and improve utilisation of port capabilities between the two country, Communication and IT Minister Ravi Shankar Prasad told reporters after the Cabinet meeting.
The pact will also help de-congest roads, especially at the land custom stations or integrated check posts at the Indo-Bangladesh border.
“Indian ports serving as trans-shipment ports for Bangladeshi cargo will derive benefits by way of enhanced throughput as a result of Indo-Bangladesh coastal trade,” said the statement. India and Bangladesh shall render the same treatment to the other countries’ vessels as it would have done to its national vessels used in international sea transportation, it added.
India's trade with Bangladesh has grown rapidly over the past few years, and Bangladesh is now India's largest trade partner in South Asia.
DH News Service