BIMSTEC meet on Oct 14, to focus on boosting trade, investment

New Delhi [India]: The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) business community meeting to be held on October 14 with a strong focus on the area of “trade of investment of trade facilitation”.

It will be organised by Confederation of Indian Industries (CII) and will be addressed by Commerce and Industry Ministry Nirmala Sitharaman.

Addressing a press conference, Ministry of External Affairs (MEA) Secretary (East) Preeti Saran said, “In Delhi, there would be business elements, where the BIMSTEC business leaders would be interacting with the business community and in that context we are also doing a separate business event with the BIMSTEC community on 14 morning, this is being organised by the CII. Commerce and industry will address the meeting.”

Highlighting the importance of BIMSTEC, Saran said it is an important event to focus on the area of trade of investment of trade facilitation, adding that the main focus of the event will be to boost trade, investment within the region.

“It (BIMSTEC) as a very important platform to carry forwards the process of regional integration in both South and South East Asia. BIMSTEC is uniquely positioned as a bridge between the two regions, especially it helps to put the northeastern states of India at the centre stage, as a gateway to and from the southeastern region,” Saran said.

BIMSTEC is a grouping of seven countries, five from South Asia and two from South-East Asia.

Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal are the seven BIMSTEC nations. It was established in 1997. (ANI)