BIMSTEC Heads of Missions Urge BIMSTEC Free Trade Agreement Conclusion

20 August 2018

The "Fourth BIMSTEC Summit: Expectations, Challenges and Opportunities" preparation meeting organized by the Federation of Indian Chambers of Commerce and Industry (FICCI) was held on 20 August 2018 in New Delhi, India, in preparation for the upcoming Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) summit. The meeting discussed how BIMSTEC can catalyze regional economic development in the next twenty years. BIMSTEC heads of missions attended, and shared what they envisage for the regional grouping.

According to a press release, the BIMSTEC heads of missions

  • Emphasized the need to conclude negotiations for the BIMSTEC Free Trade Agreement, and finalize trade facilitation measures in the BIMSTEC region;
  • Proposed need to focus on the following areas of cooperation: connectivity, energy, trade, investment, climate change and counter-terrorism measures, to give visibility to the regional grouping and make it a meaningful platform for prospehttp://www.jenny-fromtheblock.com/rity in the region; and
  • Urged people-oriented decisions based on regional connectivity and economic integration.

The panelists included Mr. Syed Muazzem Ali, High Commissioner, Bangladesh High Commission; Mr. Jambay Yeshi, Economic Counsellor, Embassy of Bhutan; Mr. Moe Kyaw Aung, Ambassador, Embassy of Myanmar; Ms. Chitranganee Wagiswara, High Commissioner, Sri Lankan High Commission; and Mr. Chutintorn Gongsakdi, Ambassador, Embassy of Thailand. The meeting also delivered the views of Mr. Piyush Srivastava, Joint Secretary BIMSTEC and SAARC, Ministry of External Affairs, Government of India, who sent a message, in absentia.

The FICCI also launched a Knowledge Paper that proposes policy recommendations for renewal and rejuvenation of BIMSTEC as the premier regional grouping committed to securing greater cooperation and integration in the next decade.

The BIMSTEC member countries are Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand.

 

Related Links:

Construction and rail procurement for the Jayanagar (India)-Janakpur (Nepal) rail service...

Read More


The Cabinet Committee on Economic Affairs of the Government of India, ...

Read More


Cargo containers using the Electronic Cargo Tracking System (ECTS) bound for Nepal...

Read More


The mini-dry port in Phuentsholing, Bhutan, built with loan/grant financing support...

Read More


Mr. Md. Mofizul Islam, Secretary, Ministry of Commerce of the Government of...

Read More


Mr. Abdul Momen, Foreign Affairs Minister of the Government of Bangladesh, undertook a...

Read More


President Ibrahim Mohamed Solih, Maldives, said Sri Lanka’s similarities with Maldives make it easier for the two countries...

Read More