Bimstec nations agree to share technology

Representatives of the seven member countries of the Bimstec sign a memorandum of association (MoA) and a memorandum of understanding (MoU) at the regional body's third summit in Myanmar International Conference Centre in Nay Pyi Taw yesterday. The summit was attended by the prime ministers, presidents and a representative of the member states. It concluded yesterday with the handover of Bimstec's chairmanship from Myanmar to Nepal and adoption of a declaration. Photo: PID

The Bimstec leaders, including Prime Minister Sheikh Hasina, yesterday agreed to enhance cooperation in expanding the skills and technology base of member countries through collaborations and partnerships targeted towards micro, small and medium scale enterprises.
They expressed their resolution to move forward with the proposal to sign agreements on dispute settlement procedures, cooperation and mutual assistance in customs matters under the Framework Agreement on the Bimstec Free Trade Area.
The summit, which adopted the Nay Pyi Taw declaration, conveyed appreciation to Bangladesh for providing the premises for the Bimstec Secretariat in Dhaka and expressed satisfaction at the progress made towards the operationalisation of the Secretariat.
It renewed the commitments to strengthen cooperation on agreed sectors, including trade and investment, energy, and counter-terrorism and trans-national crimes.
The other agreed sectors of cooperation are transport and communication, technology, tourism, agriculture, cultural cooperation, environment and disaster management, poverty alleviation, and climate change.
The third summit concluded yesterday as Myanmar President Thein Sein handed over the Bimstec chairmanship to Nepal Prime Minister Suresh Koirala.
Leaders of the seven-nation Bimstec agreed to accelerate efforts for the early finalisation of a framework for establishment of the Bimstec Technology Transfer Facility.
In order to promote regional cooperation in the energy sector, they decided to hold the third edition of the Bimstec Energy Ministerial meeting in Nepal in 2014 and the fourth one in Bhutan in 2015.
The leaders expressed satisfaction over the development of physical connectivity in the Bimstec region and the progress made in updating the ADB-supported BTILS (Bimstec Transport Infrastructure and Logistic Study).
The Asian Development Bank study is designed to help promote and improve transport infrastructure and logistics among the members of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation, or Bimstec.
The prime ministers of Bangladesh, Bhutan, India and Nepal, presidents of Myanmar, Sri Lanka, and a special envoy of the Thailand prime minister joined the third summit.