BIMSTEC summit ends with Kathmandu declaration

The member-states to cooperate on blue economy for sustainable development


Published: August 31, 2018 18:15:44 | Updated: September 11, 2018 21:27:13


The 4th Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) summit successfully concluded in Kathmandu on Friday.

Nepal Prime Minister K.P. Sharma Oli handed over the chairmanship of the grouping to Sri Lankan President Maithripala Sirisena.

Prime Minister Sheikh Hasina and top leaders of other BIMSTEC member-States attended the two-day summit, reports The Hindu.

The leaders adopted the Fourth BIMSTEC Summit Declaration which included the setting up of a development fund.

The countries also agreed to established seamless multimodal connectivity and call for a comprehensive approach to prevent financing of terrorists and terrorist actions and counter radicalisation.

UNB says, BIMSTEC leaders emphasised the importance of blue economy and agreed to cooperate in this sector for sustainable development of the region.

They decided to establish an Inter-governmental Expert Group to develop an action plan on blue economy, keeping in mind the special needs and circumstances of the landlocked Member States.

The BIMSTEC leaders noted with satisfaction the hosting of International Blue Economy Conference in Bangladesh in 2017 with the participation of government representatives from BIMSTEC Member States, according to an annex to the declaration.

Prime Minister Sheikh Hasina, the Chief Advisor of Bhutan, the Prime Minister of India, the President of Myanmar, the Prime Minister of Nepal, the President of Sri Lanka, and the Prime Minister of Thailand attended the summit.

The BIMSTEC leaders reiterated their commitment to the eradication poverty in the Bay of Bengal Region by 2030 in line with the 2030 Agenda for sustainable development.

They called 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.

The BIMSTEC leaders expressed commitment to nurturing their workforce by taking concrete measures to provide decent job opportunities for them through increased investment in service and productive sectors of national economy.

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