PM Modi calls for greater cooperation among BIMSTEC nations

Prime Minister Narendra Modi on Wednesday gave a clarion call of making Bay of Bengal the bridge of connectivity, prosperity, and security and stressed that regional cooperation has become a greater priority in the present scenario. Attending BIMSTEC Summit virtually, the Prime Minister said recent developments in Europe have raised questions about the stability of the international order. He said it has become important to make BIMSTEC regional cooperation more active. He pointed out that the region has not remained untouched by today's challenging global scenario.
Modi said BIMSTEC charter is being adopted to develop institution architecture for BIMSTEC group. This is the 25th year of the establishment of BIMSTEC. He said the outcome of this landmark summit will write a golden chapter in the history of BIMSTEC. PM highlighted the importance of enhancing the capacity of the Secretariat for BIMSTEC to meet everyone's expectations. He suggested that a roadmap should be made to achieve this goal. He said India will provide financial assistance of one million dollars to increase the operational budget of the Secretariat.
The Prime Minister said it is necessary to make early progress on the proposal of BIMSTEC Free Trade Agreement to enhance trade. He said exchanges between entrepreneurs and startups of BIMSTEC countries should be increased. He further stated that international norms should be adopted in the field of Trade Facilitation. Modi along with other leaders also witnessed the signing of three BIMSTEC agreements which represent progress being achieved in ongoing cooperation activities. These are, BIMSTEC Convention on Mutual Legal Assistance in Criminal Matters, BIMSTEC Memorandum of Understanding on Mutual Cooperation in the field of Diplomatic Training, and Memorandum of Association on Establishment of BIMSTEC Technology Transfer Facility.