India and Bangladesh yesterday signed the Standard Operating Procedure (SOP) for operationalising the ‘Agreement on Coastal Shipping’, signed in June this year, a move that will improve the bilateral trade between the two countries by reducing the logistic costs, reports PTI from New Delhi. The SOP was signed by the Joint DG (Shipping) Ministry of Shipping, India and Chief Engineer & Ship Surveyor, Department of Shipping, Bangladesh in the presence of Union Minister Nitin Gadkari, an official statement said. Speaking on the occasion, Road, Highways and Shipping Minister Gadkari said that once the SOP is operational, the Coastal Shipping Agreement will enable a huge saving in logistic costs of EXIM transport between the two countries. Shipping Secretary Rajive Kumar and Bangladesh’s Secretary of Shipping Shafique Alam Mehdi were also present on the occasion. The SOP will pave the way to promote coastal shipping between India and Bangladesh and would enhance bilateral trade by bringing down the cost of transportation of EXIM cargo, the statement said. It contains provisions which stipulate that India and Bangladesh shall render same treatment to other country’s vessels as they would have done to their national vessels used in international sea transportation, it added. The two sides have also agreed upon the use of vessels of River Sea Vessel (RSV) category for Indo-Bangladesh coastal shipping. The two countries will also hold Shipping Secretary level talks today, which will cover issues relating to MoU on passenger and cruise vessel movement.
There will also be discussion on the protocol to operationalise the MoU on use of Mongla and Chittagong ports, payment of transit fees and bank guarantee, dredging of rivers in the protocol route using Regional IDA Assistance of World Bank Assistance and various upcoming port projects in Bangladesh, the statement said.