Dhaka calls for early implementation of the BIMSTEC FTA
Dhaka has called upon the BIMSTEC to expedite the process for finalizing the necessary instruments for early implementation of the Free Trade Agreement (FTA) among the member states.
Foreign secretary Md Jashim Uddin made the call while participating in the 24th Session of the BIMSTEC Senior Officials' Meeting (SOM), chaired virtually by the Thailand today, said a foreign ministry press release.
During the meeting, Jashim updated the member states on various developments in the trade and investment sector including the blue economy, for which Bangladesh is the lead country.
He reiterated Bangladesh's commitment to finalising the six constituent agreements under the BIMSTEC Free Trade Area (FTA) Framework Agreement.
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Emphasising trade and investment in advancing the shared goal of BIMSTEC, particularly in enhancing the living standard of the people of the region, he urged support and cooperation from all member states.
He called for a renewed commitment from the member states to achieve BIMSTEC's shared vision of regional prosperity.
The meeting also took stock of the progress made in BIMSTEC's core areas of cooperation since the last SOM meeting.
The meeting reviewed operational mechanisms and the decision-making framework for BIMSTEC.
Updates were provided on ongoing initiatives across various sectors, including trade, investment and development, connectivity, security, the environment and climate change, science, technology, and innovation.
Delegates emphasized the need for collaborative action to address regional environmental challenges, discussions highlighted efforts to enhance regional connectivity for economic integration and people-to-people exchanges; and progress on institutional frameworks.
The meeting also considered the financial framework and administrative priorities for BIMSTEC.
