ISO 9001:2015 Certified
closex Call Us 11-23320714, 23721504,

 Upcoming Event
to forge a partnership on Technology Commercialization Initiative, FICCI-AMITY and IC2 Institute University

BIMSTEC countries call for free trade pact 

SME Times , Aug 20, 2018

Ahead of the 4th BIMSTEC Summit to be held in Kathmandu (Nepal) on August 30-31, 2018, Heads of Missions of BIMSTEC member countries on Monday underlined the need for conclusion of negotiations for a BIMSTEC Free Trade Agreement and trade facilitation measures.

Speaking at a meeting today on 'Fourth BIMSTEC Summit: Expectations, Challenges and Opportunities', organised by FICCI, the Heads of Missions expressed disappointment that 13 years after the framework agreement was finalised, FTA was still being negotiated. They felt that the time was ripe for BIMSTEC leaders to give unequivocal directives to facilitate conclusion of FTA.

The panelists shared their vision for the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) as a catalyst for regional economic development over the next twenty years. The BIMSTEC member nations are: Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan, and Nepal.

The unanimous view of the BIMSTEC envoys was that out of the 14 identified priority sectors of cooperation, there was a need to focus on select areas such as connectivity, energy, trade, investment, climate change and counter-terrorism measures.

This, they said, would give visibility to the regional grouping and make it a meaningful platform for prosperity in the region.

The heads of BIMSTEC missions called for people-oriented decisions based on regional connectivity and economic integration.

Piyush Srivastava, Joint Secretary BIMSTEC & SAARC, Ministry of External Affairs, GoI expressed the hope that the Nepal Summit of BIMSTEC leaders would give a further impetus to people's expectation of bettering their lives in the region.

He laid stress on cooperation in the areas of security, disaster management, tourism, trade and public health.



Also Read

Ahead of BIMSTEC Summit meeting, Heads of Missions call for conclusion of FTA negotiations, trade facilitation measures

Bimstec representatives call for conclusion of FTA talks     

Bimstec envoys call for early conclusion of FTA     

Bimstec representatives call for conclusion of FTA talks     

BIMSTEC envoys bat for FTA     

Bimstec envoys call for early conclusion of FTA     

BIMSTEC FTA may be delayed, says Sri Lankan envoy but pushes for soft diplomacy     

BD envoy: BIMSTEC must boost its security, economic cooperation     

Bimstec representatives call for conclusion of FTA talks     


 High-Powered Ambassadors' Panel on BIMSTEC