Key Points
The BIMSTEC countries must work together in collaboration to create ways for supporting each others inclusive growth and development, stated Piyush Goyal, Minister of Commerce and Industry, Government of India, during the Special Ministerial Plenary session at the first BIMSTEC Business Summit, organised by the Confederation of Indian Industry (CII) in collaboration with the Ministry of External Affairs in New Delhi on August 7, 2024...
Goyal stated further that greater collaboration with the start-ups, entrepreneurs and business communities among the regions have great potential in fostering the BIMSTEC partnership further...
Highlighting some potential areas of collaboration, the Minister added that the Blue Economy has tremendous potential, which in turn can boost job creation and economic growth in the region..
Concerted efforts for removing non-tariff barriers, adopting international norms on trade facilitation and measures to promote e-commerce and connectivity were among some critical measures suggested by the Minister to enhance greater trade and regional cooperation among the BIMSTEC member states..
Damodar Bhandari, Minister of Industry, Commerce and Supplies, Government of Nepal stated that BIMSTEC members must continue to push for greater integration into regional value chains through measures such as trade facilitation and digital transformation, which will contribute to rapid growth, prosperity, and stability in the BIMSTEC region..
