The Hindu : BIMST-EC must re-energise itself, says Shourie

Online edition of India's National Newspaper
Saturday, Dec 21, 2002

International

International

BIMST-EC must re-energise itself, says Shourie

By V.S. Sambandan

COLOMBO. DEC. 20. The Union Minister for Disinvestment, Commerce and Industry, Arun Shourie, today urged the BIMST-EC (Bangladesh, India, Myanmar, Sri Lanka, Thailand-Economic Cooperation) to ``re-energise'' itself so that it can be given recognition by the United Nations as a sub-regional grouping.

Mr. Shourie — who is heading a delegation at the fifth meeting of the BIMST-EC — told Indian correspondents based in Colombo that though the five-nation regional grouping had a ``cutting edge role'' its ``potential was not fully exploited''.

India was keen on strengthening the BIMST-EC with funds and technical support to tap the region's full economic potential and expressed support to the idea of a permanent secretariat for the grouping.

India was ``warmly supportive'' of Nepal's application to join the BIMST-EC. The Himalayan Kingdom is presently on an observer status. Developing transport links, he said, was a crucial area of importance, and referred to the road and sea projects aimed at linking the sub-continent to South East Asia.

On bilateral issues with Sri Lanka, Mr. Shourie said talks were on for the second Free Trade Agreement, the FTA 2. On the attempt to find a negotiated political settlement to the island's separatist conflict, the Minister said: ``all of us are very delighted over the peace process''. The BIMST-EC Joint Declaration also expressed ``grave concern'' over the threat of international terrorism to the region and resolved to ``continue active cooperation'' in the ongoing international efforts.

Ranil moots Free Trade Area

Earlier, inaugurating the meeting, the Sri Lankan Prime Minister, Ranil Wickremesinghe, made a strong case for a regional Free Trade Area, which ``actually delivers'' and ``leads to a stronger economic foundation''.

Drawing a parallel from the ASEAN's Free Trade Area, the AFTA, he said that while each country could be ``flexible'' on how it moved towards the ``goal of free trade'', they ``must reach the finishing line in reasonable time''

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