Dropping curtains of the 4th BIMSTEC Summit, India and its member countries pledge to enhance effective economic activities

Kathmandu, August 31: The fourth summit of Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) has dropped its curtain as the summit come to a close. The declaration paper signed today on the second day of the summit was aimed at enhancing the effectiveness of BIMSTEC Secretariat by engaging it in various technical and economic activities in the region.

Prime Minister Narendra Modi along with other leaders of the member states have pledged to contribute effectively in crafting peace and prosperity in the region of Bay of Bengal.

1. The countries pledged on affirming the solemn commitment of making the Bay of Bengal Region peaceful, prosperous and sustainable by building on their common strengths through our collective efforts.

2. In order for promoting deeper cooperation in identified core areas in the region, the countries have convinced that geographical contiguity, abundant natural and human resources, rich historical linkages and cultural heritage present will contribute to ensuring great potentials.

3. Eradication of poverty has been recognized as the biggest regional challenge in the realization of development objectives and expressing firm commitment to working together.

4. Enhanced inter-linkages and inter-dependence within the economies and societies in the BIMSTEC Member States provide greater opportunity to advance regional cooperation needs to be acknowledged.

 

5. The declaration underlined the importance of multidimensional connectivity, which promotes synergy among connectivity frameworks in our region, as a key enabler to economic integration for shared prosperity.

6. Considering the importance of trade and investment, it has been aimed as one of the major contributing factors for fostering economic and social development in the region.

7. Recognizing the special needs and circumstances of the least developed and land-locked developing countries in the region and underlining the necessity to provide meaningful support to their development process.

8. Recognizing that terrorism and transnational organized crimes continue to pose a great threat to international peace and security including in the BIMSTEC countries and stressing that combating terrorism and transnational organized crimes require sustained efforts and cooperation and comprehensive approach involving active participation and collaboration of the Member States.

 

9. Reaffirming strong commitment to making BIMSTEC a dynamic, effective and result-oriented regional organization for promoting a peaceful, prosperous and sustainable Bay of Bengal Region through meaningful cooperation and deeper integration.

10. Stressing the need for a fair, just, rule-based, equitable and transparent international order and reaffirming faith in the multilateralism with the United Nations at the center and the rule-based international trading system.

11. Underscoring the importance of robust institutional arrangements to effectively steering the process of regional cooperation under BIMSTEC.

12. Taking Note of the participation and concurrence by the Chief Advisor of the Interim Government of Bhutan to the Summit decisions and its outcome documents on an ad referendum basis, as these are subject to endorsement by the next elected government.