is projected as the cornerstone in Prime Minister Narendra Modi's 'Look East' strategy and is a major foreign policy initiatives.
This prompted the establishment of Bangladesh, Bhutan, India and Nepal regional Forum, BBIN
, and the new grouping paved the way for connectivity through vehicular movement.
pact was signed last month during Gadkari's visit to Bhutan.
But won't Indian businessmen flood Bangladesh, Bhutan and Nepal markets with their goods when the BBIN
pact becomes operational?
I am encouragedby the strong commitment of the BBIN
countries to move forward on the MVA initiative, says Ms.
Thus, Pakistan possesses greater competitive advantage in CAREC than it might in BBIN
and SASEC where most countries have their own ports.
transforming transport corridors into economic corridors could potentially increase intra-regional trade within South Asia by almost 60 per cent and with the rest of the world by over 30 per cent, the joint statement read: "We acknowledge that apart from physical infrastructure, the development of economic corridors within and between our countries requires the implementation of policy and regulatory measures, including the BBIN
MVA, which will help address the non-physical impediments to the seamless movement of goods vehicles and people between our four countries.
It is to lay the first bricks of the sub-regional architecture called BBIN
(Bangladesh, Bhutan, India and Nepal) as this writer had written about in these columns recently.
in/en/2012/12/pics-blackberry-z10-will-have-2gb-ram-dual-hd-cam-more/#comments) BlackBerry blog BBIN
vision is to improve economic cooperation and connectivity among four South Asian countries.
India's thrust is to reinvigorate cooperation among the four BBIN
countries and forge connectivity of all kinds and put in place a seamless mechanism of sub-regional connectivity, bypassing Pakistan.
These include the BBIN
with Bangladesh Bhutan India and Nepal as members; the BCIM with Bangladesh China India and Myanmar and the BIMSTEC with Bangladesh Bhutan India Nepal Myanmar Sri Lanka and Thailand as member economies.