India is set to enter into another landmark motor pact with Myanmar and Thailand by year-end, on the lines of the one signed with three other SAARC nations to allow seamless flow of traffic among them, Union Minister Nitin Gadkari said today.
Besides, a Rs 23,000-crore project for connectivity to Sri Lanka is on anvil.
Also, work on USD 8 billion road connectivity projects among Bangladesh, Bhutan, India and Nepal (BBIN) under Motor Vehicle Agreement (MVA) will be completed within two years, Road Transport and Highways Minister Nitin Gadkari said.
"The signing of the BBIN agreement yesterday may be seen in the larger context of similar agreement between the sub region and ASEAN.
"We will soon finalise India-Myanmar-Thailand (IMT) MVA as a trilateral arrangement. This is aimed at fostering better ties with neighbours and boosting trade and economy," Gadkari told reporters.
He added that this will enable seamless transit of passenger, cargo and vehicles among India, Myanmar and Thailand, paving the way for greater economic cooperation in the ASEAN region.
"A meeting to formulate the agreement protocol is likely in Thailand during the second week of July... It is expected that IMT arrangement will be in place by December, 2015," Gadkari said.
He added that his Ministry is also working on an ambitious project to provide connectivity to Sri Lanka at a cost of about Rs 23,000 crore.
"There is a missing link of narrow corridor of about 22 km in connectivity to Sri Lanka which is presently being serviced through makeshif ferry service arrangement.
"Once this project is completed, Trans Asia Road and transport network could be extended to Sri Lanka," Gadkari said.
A proposal for providing road and rail link, bridging the divide across Palk Strait, has been posed to ADB for financing, he said, adding that this proposed project will be a combination of bridge and underwater tunnel.
"The underwater tunnel will allow unhindered movement of ships through the tunnel and the project is envisaged as a multi-sectoral and multi-modal project for inclusive growth and will strengthen people to people contact between the nations," he added.
Gadkari said all projects are aimed at fostering ties with neighbouring nations and give a boost to trade and business besides creating employment opportunities.
