India, Bangladesh agree on promoting coastal,shipping services

To further promote coastal trade and shipping services, India and Bangladesh have agreed to sign an agreement on passenger and cruise vessels on coastal and protocol route.
"A draft MoU on passenger and cruise services on coastal and protocol route was initialled by the respective Secretaries of the two countries as a token of agreement which will be formalised after approval of the respective Governments," the Shipping Ministry said in a statement.
The talks were held in this regard between delegations from India and Bangladesh here yesterday, led by Secretary, Shipping Rajive Kumar and Secretary Shipping, Bangladesh Shafique Alam Mehdi.

The statement said that both the officials were hopeful that the MoUs and Agreement signed will result into enhanced movement of vessels and cargo between India and Bangladesh.
The development comes close on heels of both the nations signing the Standard Operating Procedure for operationalising the 'Agreement on Coastal Shipping' made in June this year.
Moreover, Bangladesh has decided to charge a highly competitive rate of 192.22 BD Taka per metric tonne for the transshipment operations at Ashuganj for movement of goods to and from North-Eastern part of India, the statement said.

India agreed for implementation of the same with an option for a review of these rates, it added.

On payment of bank guarantee, the Bangladesh Government has decided to do away with the practice of insistence upon Bank Guarantee on each consignment of transit cargo.
This would reduce the transportation cost and encourage cargo movement in this route.