BIMSTEC holds virtual ministerial meeting

New Delhi: The next summit of the BIMSTEC grouping is set to seal an agreement on maritime transport cooperation which is expected to boost trade among the member states.

A ministerial meeting hosted virtually by BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) chair Thailand Thursday approved the agreement that was initiated by India, according to the Ministry of External Affairs (MEA).

Minister of State for External Affairs Rajkumar Ranjan Singh participated in the 19th BIMSTEC ministerial meeting.

Besides India, the BIMSTEC comprises Sri Lanka, Bangladesh, Myanmar, Thailand, Nepal and Bhutan.

The MEA said rules of procedure for core BIMSTEC mechanisms, sectoral mechanisms and the grouping’s external relations were approved for submission to the sixth BIMSTEC summit.

The sixth summit will be hosted by Thailand next year.

The MEA said the BIMSTEC secretariat was authorised to anchor several meetings that brought the grouping’s rules of procedure into fruition.

“As per leaders’ direction during the 2016 retreat, the agreement on maritime transport cooperation among the BIMSTEC member states initiated by India has been approved by the meeting for signature during the sixth BIMSTEC summit,” the MEA said in a statement.

It said the meeting also approved the terms of reference for an ‘Eminent Persons Group’ on the future directions of BIMSTEC which were finalised under the special scheme for institution building.

“The meeting also approved the BIMSTEC Bangkok Vision 2030 which would be launched at the sixth BIMSTEC Summit,” it said.

The MEA said the meeting approved administrative and disciplinary rules of the secretariat and amended financial rules and regulations of the BIMSTEC secretariat.

PTI