KATHMANDU, Aug. 29 (Xinhua) -- Member states of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) on Wednesday agreed to further consolidate regional cooperation while reviewing the entire gamut of their cooperation under the BIMSTEC framework.
The ministers/state ministers from BIMSTEC member states made such a decision during their 16th meeting, ahead of the fourth summit of BIMSTEC member states on Thursday and Friday in Kathmandu, the Nepali Capital.
Nepal is a rotating chair of BIMSTEC, a regional grouping established in 1997 through the Bangkok Declaration. BIMSTEC groups India, Bangladesh, Bhutan, Myanmar, Nepal, Sri Lanka, and Thailand.
"The one-day ministerial meeting reviewed the whole gamut of cooperation under the BIMSTEC and decided to further consolidate regional cooperation process. The ministers reiterated their commitments to make BIMSTEC process more effective and result oriented," Spokesperson of the Nepali Foreign Ministry, Bharat Raj Paudyal, told a press conference here Wednesday evening.
According to the spokesperson, the ministers reviewed the progress in priority areas of cooperation since holding of the 15th BIMSTEC ministerial meeting held in Nepal in 2017.
"While appreciating the progress achieved in the past, the ministers resolved to take more vigorous steps for more focused implementation of the activities of the organization. They felt the need for rationalization of priority areas and focusing on core economic sectors to make BIMSTEC more effective, result-oriented and to enhance its visibility," he said.
The ministerial meeting endorsed the agendas for the fourth summit of the BIMSTEC leaders focusing on priority areas such as combating terrorism, deepening cooperation in railroad connectivity, trade, and tourism.
Also on Wednesday, during the ministerial meeting, the ministers/state ministers from the BIMSTEC member states stressed on the need to enhance their cooperation on multiple areas such as connectivity, trade, tourism, energy, and agriculture.
On the occasion, the ministers called for some of the existing challenges in the Bay of Bengal region such as poverty, hunger, backwardness, inequality, natural disasters, environmental degradation, terrorism, organized crimes, illicit drugs and human trafficking, according to the Nepali Foreign Ministry.
"The BIMSTEC member states are currently working out to develop a master plan on transport connectivity. It is expected to be finalized by September 2018," the spokesperson told the media.
BIMSTEC member states will sign a Memorandum of Understanding on establishing the electricity grid interconnection during the summit, according to the spokesperson.
Nepal is all set to host the fourth summit of the BIMSTEC on Thursday and Friday, amid tight security.
Prime Minister of Nepal, K.P. Sharma Oli will formally inaugurate the fourth BIMSTEC summit on Thursday afternoon. The BIMSTEC leaders will be attending the two-day summit, and issue a Kathmandu Declaration on Friday, according to the officials.
Sri Lankan President Maithripala Sirisena, Myanmar President U Win Myint, Bhutan's Chief Justice and Chief Advisor to the interim government Dasho Tshering Wangchuk already arrived to participate in the summit. Indian Prime Minister Narendra Modi, Bangladesh Prime Minister Sheikh Hasina, Thailand's Prime Minister Prayut Chan-o-cha will be arriving in Kathmandu on Thursday morning, according to official sources.
Nepali President Bidya Devi Bhandari is scheduled to host a luncheon on Thursday evening in honor of the visiting top foreign dignitaries.
The summit to be held under the theme of "Towards a peaceful, prosperous and sustainable Bay of Bengal region" will be concluded on Friday.
