Cabinet okays agreement on coastal shipping between India, Bangladesh
The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the agreement on coastal shipping between India and Bangladesh to carry out movement of goods on Saturday.
Presently, there is no significant cargo movement between the <g data-gr-id="33">sea ports</g> of Bangladesh and India as it is not profitable for big vessels to operate between the <g data-gr-id="34">sea ports</g> of the two countries. Therefore, to reduce the cost of shipping operations, an efficient standard of vessel known as River Sea Vessel (RSV) has been suggested for coastal shipping.
With this approval, Export-Import (Exim) trade between India and Bangladesh would be benefited by way of reduction in freight charges. It will also help in <g data-gr-id="40">decongestion</g> of roads especially at the land <g data-gr-id="26">custom</g> stations and integrated check posts at the India-Bangladesh border.
“The understanding will increase bilateral trade between the two countries and lower down the cost of transportation of Exim cargo,” Union minister Ravi Shankar Prasad said.
Bangladesh is now India’s largest trade partner in South Asia. The opening up of the coastal route between the two countries is expected to provide an alternative route for the transportation of Exim cargo. The Cabinet also approved signing of MoU with Bangladesh on prevention of human trafficking, especially of women and <g data-gr-id="32">children,</g> and speeding up prosecution.
In another decision, a committee headed by the Prime Minister has been set up to commemorate Dr B R Ambedkar’s 125th birth anniversary. A go-ahead has also been granted for reclassification and upgradation of some cities for granting house rents and transport allowances to the central government employees.
“Under this, 21 cities have been upgraded from Z to Y categories,” Prasad added.