India, Bhutan sign new trade, transit agreement | Latest News India - Hindustan Times
close_game
close_game

India, Bhutan sign new trade, transit agreement

None | ByPress Trust of India, New Delhi
Jul 28, 2006 07:18 PM IST

The Trade, Commerce and Transit will provide for four more entry and exit points and simplifies procedures for import and export.

India and Bhutan on Friday signed a new ten-year agreement on Trade, Commerce and Transit, which provides for four more entry and exit points and simplifies procedures for import and export between the two countries.

HT Image
HT Image

Commerce Minister Kamal Nath and Bhutanese Minister for Trade, Industry and Power Lyonpo Yeshey Zimba signed the new agreement, which replaces the Agreement on Trade and Commerce inked in 1995.

Hindustan Times - your fastest source for breaking news! Read now.

The protocol to the new agreement provides for four more entry and exit points for import and export.

The two land routes are Phulbari and Dawki, while the two sea and air routes are Mumbai and Chennai.

These routes are in addition to the existing 12 entry points, an official release said.

As per the new pact, import and export procedures have also been simplified. In place of the existing format for bill of entry for transit goods of the kingdom, the new protocol provides for a letter of guarantee from the Bhutan government against diversion of transit goods pertaining to that country.

The new protocol also provides for movement of goods from one part of Bhutan to another through Indian territory by giving a transit declaration in a prescribed form, the release said.

Unveiling Elections 2024: The Big Picture', a fresh segment in HT's talk show 'The Interview with Kumkum Chadha', where leaders across the political spectrum discuss the upcoming general elections. Watch now!

Get Current Updates on India News, Election 2024, Mukhtar Ansari Death News Live, Bihar Board 10th Result 2024 Live along with Latest News and Top Headlines from India and around the world.
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 29, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On