India helps reduce Bangladesh-Sri Lanka logistics time

13 Oct '16

2 min read

Cross border logistics has become faster in the subcontinent with the implementation of the Motor Vehicles Agreement between Bangladesh, Bhutan, India and Nepal (BBIN). The agreement ensures a smooth transition of cargo and passenger vehicles between the four countries. It will help reduce logistics costs by up to 20 per cent and transit time by 3 days.

A Marks & Spencer shipment of Expo Freight (EFL), Sri Lanka's leading forwarder, recently entered India from Bangladesh, making it the first truck to make the cross-border transition without unloading the consignment and transferring it to another truck at the border. EFL's truck arrived in Delhi from Dhaka via Magura, Jessore, the Benapole-Petrapole border, and Kolkata.

Global brands as well as the domestic companies of the apparel-centric economies in the subcontinent will benefit from this agreement. It could increase intraregional trade in the region by up to 60 per cent and global trade by more than 30 per cent, according to Sri Lankan media reports.

Under BBIN framework, a new customs inspection and verification procedure has been introduced that is carried out using E-Seal. GPS will also be installed in the trucks to allow customers to keep a check on their cargo's exact location. (KD)

Fibre2Fashion News Desk – India