BBIN landmark deal inked

Bangladesh, Bhutan, India and Nepal (BBIN) have mapped out a plan of action that will pave the way for movement of passenger and cargo vehicles across their borders. We welcome the agreement as the first step towards greater regional integration that holds the potential to boost trade in the region by nearly 60 percent. 

The essential thing now is to enhance the state of infrastructure in each country. While the plan of action estimates that it will take five years from signing of the agreement for it to become fully operational, one has to deal with the financing, and in this, we feel that India, being the largest country, will have to take the lead. 

We are informed that the cost of upgrading infrastructure across BBIN will be to the tune of US$8 billion. As the bulk of transit will take place over Bangladesh territory, it becomes imperative that donor partners come forward in this regard. Without requisite financial assistance, the major road links cannot be upgraded to international standards. It is heartening that the Asian Development Bank has already committed to finance one of the corridors, Dhaka-Sylhet two-lane into a four-lane one. 

The other point that needs to be kept in mind is the fixation of toll rates. Realistic toll fees need to be fixed at all border crossing points that will generate revenue for maintenance of key road links. As traffic will increase in volume exponentially, we need to stay on track to put the necessary regulatory framework in place that will govern the movement of vehicles from other nations.