Ahead of the fourth BIMSTEC Summit to be held in kathmandu (Nepal) on August 30-31, 2018, Heads of Missions of BIMSTEC member countries underlined the need for conclusion of negotiations for a BIMSTEC free trade Agreement and trade facilitation measures.
Speaking at a gathering on ‘Fourth BIMSTEC Summit: Expectations, Challenges and Opportunities’, organized by FICCI, the Heads of Missions expressed disappointment that thirteen years after the framework agreement was finalised, FTA was still being negotiated. They felt that the time was ripe for BIMSTEC leaders to offer unequivocal directives to facilitate conclusion of FTA.
The panellists 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 member nations ar bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan, and Nepal.
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The panellists were Chitranganee Wagiswara, diplomatist, Sri Lankan High Commission; Chutintorn Gongsakdi, Ambassador, Embassy of Thailand; Syed Muazzem Ali, diplomatist, bangladesh High Commission; Moe Kyaw Aung, Ambassador, Embassy of Myanmar; and Jambay Yeshi, Economic Counsellor, Embassy of Bhutan. The meeting also heard the views of Piyush Srivastava, Joint Secretary BIMSTEC & SAARC, Ministry of External Affairs, Government of india, whose message was read out in absentia.
The unanimous view of the envoys was that out of the fourteen identified priority sectors of cooperation, there was a necessity to focus on select areas like connectivity, energy, trade, investment, global climate change and counter-terrorism measures. This, they said, would give visibility to the regional grouping and create it a important platform for prosperity in the region.
The heads of 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 would provides a more impetus to people’s expectation of bettering their lives within the region. He laid stress on cooperation in the areas of security, disaster management, tourism, trade and public health.
Source: Ahead of BIMSTEC Summit meeting, Heads of Missions call for conclusion of FTA negotiations
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