Updated By: LatestGKGS Desk
BIMSTEC for better transport connectivity to boost trade, summit in Kathmandu
BIMSTEC meeting in Nepal to sought the conclusion for speedy transport connectivity among member states
BIMSTEC or the bay of Bengal Initiative for Multi-Sectorial Technical and Economic Cooperation, formed in 1997, has seven members (Bhutan, Bangladesh, India, Nepal, Sri Lanka, Myanmar, and Thailand). It has a combined gross domestic product of $2.8 trillion.
These countries of an economic grouping spanning South Asia and South-East Asia on Friday called for the early adoption of a master plan on transport connectivity in the region to boost trade and people-to-people contact among member states.
Leaders of Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand meeting in Kathmandu sought the speedy conclusion of a free trade agreement, the establishment of a development fund and the forging of common positions on key issues and seeking recognition for the group in Various multilateral organizations, institutions and processes to build the group’s profile.
