Page 2 - Bimstec Summit

BIMSTEC FTA progress 'slow', members move to consider components: Official

As the free trade area framework under the BIMSTEC is progressing slowly, members of the seven-country bloc are now considering certain components of it, such as trade facilitation and mutual assistance on customs matters, to finalise and proceed for implementation, a top official of the regional organisation said here on Thursday. Member countries of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) had in 2004 agreed to establish the free trade area framework agreement in order to stimulate trade and investment but some components of it are still under negotiations and incomplete, BIMSTEC Secretariat Secretary General Tenzin Lekphell said. The progress of BIMSTEC FTA, to be fair, is very slow. Realising the long delay, member states are now considering completing those components that are almost being finalised to proceed with implementation instead of waiting for the finalisation of the entire FTA, he said. Addressing the BIMSTEC Busines

BIMSTEC member nations brainstorm over food security, transport, tourism

Bridging the gap between South and Southeast Asia through strengthened transport linkages, cultivating climate-resilient crops like millet and fortifying people-to-people connections with dedicated tourist circuits were among proposals floated by member states at a two-day BIMSTEC meet here. The deliberations were taken note of in the Kolkata Declaration', which was adopted on Sunday evening on the concluding day of the meet, a top official of the regional organisation said. The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation or BIMSTEC, has Bangladesh, Bhutan, India, Nepal, Sri Lanka, Myanmar, and Thailand as member countries. The organisation can act as an enabler for the landlocked member states of Nepal and Bhutan to access the region's vast maritime networks. Bridging South and Southeast Asia through enhanced connectivity will open many avenues to facilitate a robust ecosystem for commerce, BIMSTEC Secretary General Tenzin Lekphell told PTI. The

LIVE: Ukraine Prez, Biden hold talks; US announces $500 mn more in aid

Volodymyr Zelensky discussed specific defensive support with US President in an hour-long call on Wednesday

BIMSTEC states must collectively combat terrorism, extremism: Jaishankar

S Jaishankar said that the BIMSTEC member states must collectively combat terrorism and violent extremism as he emphasised India's commitment to intensify, expand areas of cooperation

Jaishankar arrives in Lanka to hold bilateral talks, attend BIMSTEC summit

External Affairs Minister S Jaishankar arrived here on Sunday to hold bilateral talks with Sri Lanka's top leadership and attend the seven-nation BIMSTEC summit.

Sri Lanka invites foreign minister of Myanmar junta for BIMSTEC meet

Lanka has invited the new foreign minister of Myanmar's junta to BIMSTEC ministerial meeting next month, triggering a controversy that it is endorsing the military coup in the Southeast Asian nation

PM Modi to focus on greater connectivity, trade during BIMSTEC summit

Leaders of the seven nation grouping will meet in Kathmandu for a two-day summit beginning August 30