BIMSTEC member states agree on preparing pilot project for greed connection and establishing energy trade center

Kathmandu: The third meeting of energy ministers from the Bay of Bengal Initiative for Multi-sectoral, Technical and Economic Cooperation (BIMSTEC) has agreed on preparing a pilot project for greed connection and establishing an energy trade centre.

The meeting held virtually today concluded with issuing a twelve-point joint statement including the agreement to establish BIMSTEC Greed Interconnection Coordination Committee.

The meeting also agreed to form policies and develop tariff schemes for the energy trade. The Energy ministers of the region decided to constitute an expert group on the matter of modality of energy trade between the BIMSTEC member nations.
During the meeting, Energy Minister Pampha Bhusal stressed the need for mutual trust and sincerity in objectives to address the serious issues in the energy sector.

The Minister also called for adequate fiscal mobilisation and technology handover to advance toward the path of energy security.