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19 Jul 2018

Soon, Siliguri to become international trade hub

Soon, Siliguri to become international trade hubMP | Siliguri: The most important trading hub of the North East — Siliguri is soon going to be an international trade hub. 
Back in 2015, Bangladesh, Bhutan, India and Nepal (BBIN) Motor Vehicles Agreement was signed on June 15 in Thimpu, Bhutan. 
With funding from the US, Consumer Utility and Trust Society, a non-profit organization, studied 'Creating an Enabling and Inclusive policy and Political Economy Discourse for trade, transport and transit facilitation in and among the four nations,' under which it identified 8 corridors.
The corridors are not only for export or import facilities but also for allowing passenger vehicles. 
Currently, 50 odd workshops are being held in India, Bangladesh, Nepal and Bhutan as part of the study. In these series of workshops, the one in Siliguri, is being held with the support of the Federation of Chamber of Commerce and Industry of North Bengal. 
Bhutan had previously denied to implement the agreement on the basis of its biodiversity and internal security, fearing negative impact on the nature.
The implementation of BBIN is to flourish the North Eastern economy. The transportation is to be made hassle free with the construction of separate corridors for cargo movement. 
Warehouses, cargo handling facilities and other requirements will be soon introduced in Siliguri to make the town an important junction. 
India had previously approved $1.08 billion for construction and upgradation of 558 km long roads joining Bangladesh, Bhutan and Nepal. The project has received 50 percent funding from the Asian Development Bank and is scheduled to be completed by 2018.

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