Kathmandu, September 1: The fourth Summit of BIMSTEC (Bay of Bengal Multi-Sectoral Technical and Economic Cooperation) concluded in the capital on September 31 by issuing an 18-point Kathmandu Declaration.
The declaration mainly accentuated on the development of multi-dimensional connectivity among member states for economic integration and socio-economic development in the region.
It also acknowledges special needs of the least developed and land-locked developing countries and underscores the necessity to provide meaningful support to their development process.
In the declaration, the member states made commitment to bring institutional reform to BIMSTEC, promote trade and investment through enhanced connectivity and trade facilitation measures and further cooperation among member states, and to combat terrorism and various other transnational crimes.
They reaffirmed their trust in the principles and purposes of the Charter of the United Nations to strengthen the multilateral system.
As per the declaration, the BIMSTEC Secretariat would prepare a preliminary draft of the charter defining a long-term vision and priorities for cooperation and also form a BIMSTEC Permanent Working Committee to address administrative and financial matters of the secretariat and BIMSTEC centres and entities.
Apart from reaching agreement to finalize the terms of reference of the BIMSTEC Network of Policy Think Tanks, the member states decided to explore the possibility of establishing appropriate forums for parliamentarians, universities, academia, research institutes, cultural organizations and media community to expand the scope of people-to-people contact.
During the two-day summit, BIMSTEC member states signed a Memorandum of Understanding on BIMSTEC Grid Interconnection. This is expected to facilitate the member states to buy and sell energy among the seven members of the regional body.
All heads of governments/states of member countries — Myanmar President Win Myint, Sri Lankan President Maithripala Sirisena, Bhutan’s Chief Justice and Chief Adviser to the Interim Government Tshering Wangchuk, Indian Prime Minister Narendra Modi, Bangladesh Prime Minister Sheikh Hasina Wazed, Prime Minister of Thailand Prayut Chan-o-cha, and Nepal Prime Minister KP Sharma Oli — took part in the event.
BIMSTEC, formed in June 1997, consists of seven member countries — Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand.
