Giving momentum to its Indo-Pacific agenda, India inks three pacts with Thailand boosting port connectivity
New Delhi, November 12: Giving a major thrust to its Indo-Pacific agenda and expand connectivity network in Bay of Bengal, India inked three MoUs connecting ports in Eastern and Southern India with Thailand. Three agreements have been signed between Ranong Port (Thailand) and port trusts of Chennai, Visakhapatnam and Kolkata, with an aim to reduce sea travel time between the two countries to more than a half.
The Memorandum of Understanding were signed on the two-day NIMSTEC conclave of ports. The MoUs will contribute to BIMSTEC objective of strengthening connectivity and is part of India's Act East Policy. These MOUs will enhance connectivity between Ports on Thailand's West Coast and Ports on India's East Coast that is Chennai, Vishakhapatnam and Kolkata along with enhancing economic partnership by cutting down the sea travel time between India and Thailand from 10 -15 days to 7 days.
While inaugurating First BIMSTEC Conclave of Ports, Minister of State for Shipping (Independent Charge), Chemicals and Fertilizers Mansukh Mandaviya reiterated Prime Minister Modi’s vision of SAGAR (Security and Growth for All in the Region) highlighting the motto of "Sabka Saath Sabka Vikas (Collective Efforts Inclusive Growth)” that provides Peace, Prosperity and Security for all in the Region. He also expressed that India is keen in forging deep relations with BIMSTEC Member States. The First BIMSTEC Conclave of Ports will help in this regard.
India attaches great importance to Bay of Bengal Initiative for Multi Sectoral Technical and Economic Cooperation (BIMSTEC) which links five countries from South Asia (Bangladesh, Bhutan, Nepal, India & Sri Lanka) and two from South-East Asia (Myanmar & Thailand).
The BIMSTEC region brings together 1.67 billion people - 22% of world population and a combined GDP of US$ 3.71 Trillion. Four BIMSTEC summits have been held so far, the latest at Kathmandu on 30-31 August 2018. A "BIMSTEC Outreach Summit and Leaders' Retreat” was held in Goa in 2016. The BIMSTEC Leaders participated in the swearing-in ceremony of Prime Minister Narendra Modi at New Delhi on 30 May 2019.