AN impending agreement on motor vehicles due to be signed in June by Bangladesh, Bhutan, India and Nepal is set to usher in an era of reduced costs for transporting goods and people across borders of these neighbouring nations. Should the four-nation agreement stay on track, it will help to complement a much broader Saarc Motor Vehicles Agreement and could ultimately open up entry and exit of vehicles to other countries. If everything goes according to plan, it is hoped that this agreement along with others will help open up economic corridors for participating countries. Much work remains to be done in the meantime.

Apart from the movement of bulk goods, the tourism industry in the country and across the region will receive a significant boost as travel times are reduced considerably. The sticking points with regards to customs clearance and border check points will have to be addressed to allow for unfettered movement of man and material. The original agreement had included Pakistan and was set to be finalised in the latter part of 2014, but that hit an unexpected snag. We are happy that the ball has started to move in the right direction with governments of all four countries committing to realistic timeframes for the formal launch of the agreement. That Saarc is finally shaping up to be a body that is going to be the driver for economic change in a regional context is good news for all its members.