‘Cooperation essential for prioritizing trade facilitation’

For cross border trade, there is an encouraging trend towards cooperation, as seen by the expansion of India’s trade relations with neighbouring countries and global markets, including the EU, America, the Middle East, etc, says Kamesh Peri, CEO, Celebi Cargo Terminal Management India. Such cooperation is essential for overcoming obstacles and prioritising trade facilitation, which promotes a more seamless movement of goods across different forms of transportation. A multi-pronged strategy is needed to overcome the obstacles which restrict smooth cross border trade, including relaxing port limitations, streamlining customs procedures, and creating multimodal freight hubs. Key initiatives such as the MVA (Motor Vehicle Agreement) between BBIN countries (Bangladesh, Bhutan, India and Nepal) that was created ‘for the regulation of passenger, personal, and cargo vehicular traffic to boost economic growth in the region are yet to be completely implemented, he adds.