Thursday, 23 March, 2023

BIMSTEC needs greater commitment for FTA: Momen

  • Diplomatic Correspondent
  • 10 March, 2023 12:00 AM
  • Print news

Foreign Minister AK Abdul Momen called upon the member states for greater commitments so that the BIMSTEC Free Trade Agreement (FTA) could be implemented as early as possible.
As the Lead Country for cooperation in the Trade, Investment and Development sector, Momen outlined Bangladesh’s effort to enhance investment and trade relations across the platform.
He expressed Bangladesh’s keen interest in finalising the legal instruments for the BIMSTEC FTA.
The minister was addressing the 19th BIMSTEC Ministerial Meeting in Bangkok held in a virtual mode on Thursday.
Delegations from all the BIMSTEC member states joined the meeting while AK Abdul Momen led the Bangladesh delegation.
In his deliberations, Momen reiterated Bangladesh’s commitment to the BIMSTEC process and emphasised that BIMSTEC Member States need to work together to realise the huge untapped potentials of the region.
The meeting assessed the progress made so far since the Fifth BIMSTEC Summit held on 30 March 2022 including the implementation of various decisions taken during the summit.
The meeting approved the “Rules of Procedure” for all the BIMSTEC mechanisms, including several administrative and financial matters of the BIMSTEC Secretariat for adoption at the Sixth BIMSTEC Summit proposed to be held later this year.
The meeting approved the draft text of the Agreement on Maritime Transport Cooperation as well as the BIMSTEC Bangkok Vision 2030.
The inclusion of Blue Economy, Mountain Economy and Poverty Alleviation under the purview of the reconstituted sectors/sub sectors of BIMSTEC cooperation was approved by the meeting. The cooperation in the Blue Economy will be led by Bangladesh.
At the conclusion of the meeting, the Heads of Delegations issued a “Joint Statement” elaborating actions to be taken in different areas of cooperation to promote active collaborations in matters of mutual interests in the economic, social, technical, cultural and scientific fields to build a prosperous, resilient and result oriented  BIMSTEC.    
The meeting discussed the tentative schedule of the Sixth BIMSTEC Summit to be held in November 2023 in Bangkok, Thailand, in which Bangladesh is supposed to assume the Chairmanship of BIMSTEC.