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The Union Cabinet on Thursday cleared the signing and ratifying of the SAARC Motor Vehicles Agreement at the upcoming SAARC summit in Kathmandu.
This agreement provides for the member states to allow vehicles of other member states to ply in their territory for transportation of cargo and passengers subject to various terms and conditions in the agreement. Once signed, the agreement is expected to result in closer regional economic cooperation and integration through enhanced regional connectivity by allowing movement of goods and passengers in the region through road transport.
The Cabinet also approved the signing of a bilateral agreement for the regulation of passenger traffic between India and Nepal on the sidelines of the forthcoming SAARC Summit in Kathmandu. The Cabinet has also authorised the Ministry of Road Transport & Highways to sign similar bilateral agreements and protocols with other SAARC member states.
The Cabinet also approved the signing and ratifying of the SAARC Regional Railways Agreement by India, as a member state of SAARC. This agreement is aimed at strengthening transport connectivity in the SAARC region and is expected to provide stimulus to the economic development in the region as a whole.
India-Nepal tourism pact cleared
The Cabinet on Thursday cleared the signing of a Memorandum of Understanding (MoU) between India and Nepal for strengthening cooperation in the field of tourism. The MoU is proposed to be signed during Prime Minister Narendra Modi’s visit to Nepal starting November 25.
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