Indian External Affairs Minister Sushma Swaraj on Friday expressed her satisfaction on trans-border exchange of energy among India, Nepal, Bhutan and Bangladesh.
“I’m happy to note that cross-border exchange of power among India, Nepal, Bhutan and Bangladesh is on rapid upswing,” she said.
Swaraj said it while addressing 15th Bimstec Ministerial meeting in Kathmandu, reports UNB.
This region has abundance of energy resources, which is a driving force for economic development, said the Indian minister.
“Bimstec MoU on Grid Interconnection, which has been finalised, would further facilitate regional energy trade,” she said.
Swaraj also urged members of the organisation to quicken the process of completion of Bimstec FTA, the Bimstec Trade Facilitation Agreement and the Bimstec Agreement on Mutual Assistance on Customs Matters for betterment of trade between the countries.
Bangladesh Foreign Minister AH Mahmood Ali also attended the meeting with Deputy Prime Minister and Foreign Minister of Nepal Krishna Bahadur Mahara in the chair.
Bimstec has a combined GDP of over US$ 2.85 trillion and the member states think there remains an immense unfulfilled potential for deeper economic integration.