PM Deuba addressed Fifth BIMSTEC Summit, stresses on stronger regional cooperation

Kathmandu: Prime Minister Sher Bahadur Deuba has stressed the need for revitalizing the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) by pooling the strengths of resources of its Member States.

Virtually addressing the Fifth BIMSTEC Summit held in Colombo on Wednesday, the Prime Minister stated that the BIMSTEC must work to revive the regional development marred by the COVID-19 pandemic.

Stating the challenges being faced by the region, the PM outlined the steps the regional body must take collectively in the sectors of cooperation such as trade, investment, and energy among others.  

On the occasion, PM Deuba stressed reviving the Buddhist circuit keeping Lumbini at the center saying Buddhism is a connecting thread in the region.

The Summit adopted the BIMSTEC Charter following a virtual signing ceremony. The Summit also endorsed three new instruments.

Minister for Foreign Affairs Dr. Narayan Khadka, signed the ‘BIMSTEC Convention on Mutual Legal Assistance in Criminal Matters and the ‘Memorandum of Association on the Establishment of Technology Transfer Facility in Colombo on behalf of the Government of Nepal. 

Similarly, the Joint Secretary and Head of the Regional Organization Division at the Ministry Mr. Ghanshyam Bhandari signed the ‘Memorandum of Understanding on the Mutual Cooperation between Diplomatic Academies/Training Institutions of the BIMSTEC Member States.

The Chairmanship of BIMSTEC, which was held by Sri Lanka for the last three and a half years, has now been handed over to Thailand.