The Union Cabinet has approved the agreement on coastal shipping between India and Bangladesh for faster and economic movement of goods between the two countries. “Exim trade between India and Bangladesh would be benefited by way of reduction in freight charges. It will also improve the utilization of port capacities of Indian ports and open up new opportunity for Indian coastal vessels. It will also help in decongestion of roads especially at the land custom stations integrated check posts at the Indo-Bangladesh border,“ an official release said.
The Indian ports serving as trans-shipment ports for Bangladesh cargo will derive benefits by way of enhanced throughput as a result of Indo-Bangladesh coastal trade, it said. Government also said that both the nations 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.
India's trade with Bangladesh has grown rapidly during the past few years. Bangladesh is now India's largest trade partner in south Asia.
The Indian ports serving as trans-shipment ports for Bangladesh cargo will derive benefits by way of enhanced throughput as a result of Indo-Bangladesh coastal trade, it said. Government also said that both the nations 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.
India's trade with Bangladesh has grown rapidly during the past few years. Bangladesh is now India's largest trade partner in south Asia.
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