In a significant stride towards bolstering trade relations between India and Bangladesh, the Container Corporation of India Ltd. (CONCOR) has solidified its partnership with Container Company of Bangladesh Ltd. (CCBL) through the signing of a pivotal Memorandum of Understanding to their existing agreement on February 13, 2024.
More Details:
Container Corporation of India Ltd. (CONCOR), under the leadership of its CMD, Shri Sanjay Swarup signed an important addendum to the existing Memorandum of Understanding (MoU) on 13.02.2024 with Container Company of Bangladesh Ltd. (CCBL), Bangladesh. Dr Md Humayun Kabir, Secretary, Ministry of Railways, Bangladesh signed the addendum to the MoU representing CCBL and Bangladesh Railway. The addendum thus signed enabled extension of the existing agreement till 7th April, 2027.
Extension of the Previous MoU:
The said MoU was earlier executed between CONCOR, India and CCBL, Bangladesh in the year 2017 for developing modalities for running container trains between India and Bangladesh to facilitate the cross-border trade besides developing various infrastructure, logistics business and projects-related services.
CONCOR Expertise:
- CONCOR, a Navratna CPSU under the Ministry of Railways, Govt. of India, has since then been executing movements of container trains between India and Bangladesh through Petrapole-Benapole, and other border routes on a regular basis.
- It has helped the trade community of both the countries immensely, who have been involved in international business.
- CONCOR has also extended many projects related services for developing Inland Container Depots at Sirajganj, Ishurdih and other locations in Bangladesh.
- Besides this, CONCOR, aligned with the extant guidelines of the Indian Railways, Ministry of External Affairs, and Ministry of Commerce (Customs), has regularly been active in overall development of Railway and logistics-related infrastructure and trade in Bangladesh.
Future Outlook:
Signing of the addendum to the MoU in vogue, which extended its validity for further period till 7th April, 2027, has further strengthened the ongoing international containerised trade systems and understandings between both the neighbouring countries.
Conclusion:
With the extension of the MoU, both nations are poised to further fortify their international containerized trade systems, fostering a conducive environment for sustained economic growth and cooperation. This renewed commitment underscores the unwavering dedication of CONCOR and CCBL towards facilitating seamless trade operations and fostering enduring partnerships in the realm of cross-border commerce.
Source: CONCOR- Press Release | Image Credit (representational): CONCOR
