DHAKA, March 24 (Xinhua) -- Bangladesh and India Tuesday renewed Protocol on Inland Water Transit and Trade Agreement to facilitate the Indian trade through the Bangladesh's waterways.

    The two-year protocol which will be effective from April 1 was signed in Bangladesh's capital Dhaka on Tuesday after two-day negotiations between officials of the shipping ministries of Bangladesh and India.

    Bangladesh receives levy of 20 million taka (about 285,714 U.S. dollars) annually from India for allowing Indian goods ship to use Bangladesh's waterways.

    During the negotiations here Bangladesh proposed to increase the levy to 50 million taka (about 714,285 U.S. dollars) annually. It was agreed that a technical committee will study it and give report within next four months.

    Additional Secretary of Indian Ministry of Shipping, Roads, Highway, Transports Vijay Chhivver and Secretary-in-Charge of Bangladesh's Shipping Ministry Masud Elahi signed the deal on behalf of their governments respectively.

    The protocol was first signed in 1972 and it is being renewed after every two years.