Home / Knowledge / News / Textiles / India, B'desh sign SOP for coastal shipping agreement
India, B'desh sign SOP for coastal shipping agreement
16
Nov '15
Courtesy: PIB
Courtesy: PIB
India and Bangladesh signed a standard operating procedure (SOP) in New Delhi on November 15 to operationalise the Agreement on Coastal Shipping that the two countries entered into in June, 2015, according to an official statement.

The agreement is likely to increase bilateral trade, including textile and apparel trade given that Bangladesh is a major importer of Indian cotton.

Shipping and Road Transport and Highways Minister Nitin Gadkari who attended the signing ceremony said the SOP will pave the way to promote coastal shipping between India and Bangladesh and enhance bilateral trade between the two countries by bringing down the cost of transportation of Exim cargo.

The SOP contains provisions which stipulate that India and Bangladesh shall render same treatment to the other country's vessels as it would have done to its national vessels used in international sea transportation.

The two sides have also agreed upon the use of vessels of River Sea Vessel category for Indo-Bangladesh coastal shipping.

India and Bangladesh have a Bilateral Protocol on Inland Water Transit and Trade (PIWTT) for operation of inland vessels on the river protocol routes between river ports of Haldia, Kolkata, Pandu, Karimganj and Silghat in India and Narayanganj, Khulna, Mongla, Sirajganj and Ashuganj in Bangladesh. This protocol between the two countries has facilitated the movement of Exim trade as well as cargo bound for the North Eastern states of India.

Out of a total of 1.8 million tonnes of cargo moved on Indo-Bangladesh protocol route during 2013-14, about 98 per cent is fly ash which is transported from Kolkata to various river ports in Bangladesh. During the current financial year, India for the first time is using the Indo-Bangladesh river protocol to transport food grains via Ashuganj to Tripura. However, the quantum of cargo has not picked up because of low draft in the upper reaches of Bangladesh rivers and also because of certain non-trade barriers.

The present connectivity through sea route with Bangladesh is through ports of Colombo and Singapore. The long sea route adds significantly to the transportation costs of Exim trade. There is no significant cargo movement between sea ports of Bangladesh and India as it is not profitable for the big vessels to operate between these sea ports. Under such circumstances, there is a need for smaller ships to provide direct connectivity between the eastern sea ports of India, Chittagong and other ports in Bangladesh. This, besides improving the connectivity would also provide competitive freight rates, the statement said.

Must ReadView All

Courtesy: Myntra

Apparel/Garments | On 3rd Dec 2016

Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra is on track to achieve sustainable growth and be EBITA...

Courtesy: India ITME Society

Textiles | On 3rd Dec 2016

India ITME 2016 opens with over 1050 exhibitors

The India International Textile Machinery Exhibition (India ITME)...

Courtesy: Bruckner

Textiles | On 3rd Dec 2016

Indian textile companies opt for Brückner stenter lines

Indian textile firms Laxmipati Sarees, makers of polyester sarees and ...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search