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.

 

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