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BIMSTEC meet : Sets early deadline for FTA |
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The Foreign Ministers from the Bay of Bengal Initiative for Multi-Sectoral Economic and Technical Cooperation have agreed that negotiations to finalize a BIMSTEC free trade agreement should be concluded before the next BIMSTEC summit scheduled to be held early next year in India. A joint statement issued by the seven-nation grouping after a daylong meeting at New Delhi on August 9 also stressed the importance of improving transport links among member States. It stated that the Asian Development Bank (ADB) should work closely with BIMSTEC nations. The Ministers welcomed the decision to establish a BIMSTEC Energy Centre in India that would act as a focal point for strengthening cooperation in the energy sector. They emphasized the importance of sharing experiences and strengthening cooperation among member countries in the fields of grid connectivity, gas pipelines, hydro power, renewable sources of energy, energy efficiency, access to energy in all areas and energy sector reforms, restructuring, regulations and best practices.
The meeting was attended by Foreign Ministers Morshed Khan (Bangladesh), Lyonpo Khandu Wangchuk (Bhutan), U. Nyan Win (Myanmar), Mangla Samaraweera (Sri Lanka), Kantathi Suphamongkhon (Thailand), Finance Minister Ram Sharan Mahat (Nepal) and Minister of State for External Affairs E. Ahamed (India).
The Ministers agreed to strengthen emergency preparedness for natural disasters, especially through early warning systems. To this effect, they said, they would encourage networking between the BIMSTEC Centre for Weather and Climate and other existing regional institutions, such as the Asian Disaster Preparedness Centre (ADPC) and the SAARC Meteorological Research Centre. They reiterated the need to establish a permanent BIMSTEC Secretariat and appreciated the work done by the first inter-governmental experts group meeting. The Ministers agreed to a date of February 8 for the Second BIMSTEC summit, which will be hosted by India.
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