4th BIMSTEC Summit concludes in Nepal

Prime News, International and National, Kathmandu (Nepal), August 31:- The 4th Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) leaders have reaffirmed their strong commitment to make BIMSTEC a dynamic, effective and result-oriented regional organisation for promoting a peaceful, prosperous and sustainable Bay of Bengal Region through meaningful cooperation and deeper integration.

At the successful completion of 4th BIMSTEC Summit in Kathmandu, the leaders of all seven member states including Prime Minister Narendra Modi underscored the importance of robust institutional arrangements to effectively steering the process of regional cooperation under BIMSTEC.

The Prime Minister of Nepal K P Sharma Oli presented draft Kathmandu declaration which was unanimously adopted by the all member states.

Kathmandu Declaration

The Kathmandu Declaration has underlined the importance of multidimensional connectivity as a key enabler to economic integration for shared prosperity of the region. The declaration also highlighted the importance of trade and investment as one of the major contributing factors for fostering economic and social development in the region. The BIMSTEC leaders strongly condemned terrorism in all its forms and manifestations and stressed that there can be no justification whatsoever for any act of terrorism. They also affirmed that the fight against terrorism should target not only terrorists, terror organisations and networks but also identify and hold accountable states and non-state entities that encourage, support or finance terrorism, provide sanctuaries to terrorists and terror groups and falsely extol their virtues.

Reiterating strong commitment to combat terrorism the leaders called upon all countries to devise a comprehensive approach to prevent financing of terrorists and terrorist actions from territories under their control, blocking recruitment and cross-border movement of terrorists, countering radicalisation, countering misuse of internet for purposes of terrorism and dismantling terrorist safe havens.

The leaders also expressed commitment to eradicate poverty in the Bay of Bengal Region by 2030 in line with the 2030 Agenda for Sustainable Development. They called upon for effective implementation of the BIMSTEC Poverty Plan of Action and for gearing up efforts of all sectors to contribute to the over-arching goal of poverty alleviation.

A Memorandum of Understanding (MoU) was also signed during concluding session of 4th BIMSTEC summit on the establishment of BIMSTEC Grid Interconnection to enhance energy cooperation among the member states.

Sri Lanka has become the new chair of the BIMSTEC. The Nepalese PM Oli handed over the chairmanship of BIMSTEC to the President of Sri Lanka Maithripala Sirisena. (Inputs: Agencies, NGB)

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