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India satisfied with verdict

By UNB, DHAKA
09th-Jul-2014       
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In the wake of maritime boundary verdict, the Indian government on Tuesday said the settlement of the dispute will further enhance mutual understanding and goodwill between India and Bangladesh by putting an end to a long pending issue.
"We believe the settlement of the maritime boundary [dispute] will further enhance mutual understanding and goodwill between India and Bangladesh by bringing to closure a long pending issue," said official spokesperson of the Ministry of  External Affairs of India Syed Akbaruddin.
He also said the settlement of the maritime boundary paves the way for the economic development of this part of the Bay of Bengal, which will be beneficial to both countries.
In response to a question on the award of the Tribunal on the Maritime Boundary Arbitration between India and Bangladesh, Akbaruddin said The Arbitration Tribunal for Delimitation of Maritime Boundary between Bangladesh and India, established under Annex VII of the UN Convention of Law of the Sea (UNCLOS), rendered its award on July 7, 2014. "We respect the verdict of the Tribunal and are in the process of studying the award and its full implications," he added.
Bangladesh has finally gained some 19,467 square kilometers of maritime areas at the Bay of Bengal out of the disputed approximately 25,602 square kilometers with neighbouring India, raising the prospect of exploring huge maritime resources.
With this verdict, Bangladesh has won more than 118,813 square kilometers of waters comprising territorial sea, exclusive economic zone extending out to 200 NM across sizable area, and also have 'undeniable' sovereign rights in the seabed extending as far as 354 NM from Chittagong coast in the Bay of Bengal with all the living and non-living resources.
The award by the arbitral tribunal, which cannot be appealed, is binding on both states.
Foreign Minister AH Mahmood Ali officially disclosed the verdict at a crowded press conference at the Foreign Ministry on Tuesday afternoon.

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