The New Nation - Internet Edition

UNB, Dhaka

Foreign Adviser Iftekhar Ahmed Chowdhury said yesterday BIMSTEC carries immense potential for creating wider space for greater economic interaction, flow of trade and investment for the member states.

"We need to ensure that this opportunity is not lost," the Foreign Adviser said at the opening session of the 10th BIMSTEC Ministerial Meeting in New Delhi, India.

The adviser touched various issues including free trade agreement, terrorism, agriculture and climate change, saying BIMSTEC could work as a bridge between South Asia and Southeast Asia. The region has brought together nearly 1.3 billion people, or 21 percent of the world population.

BIMSTEC stands for Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation in which Bangladesh, India, Bhutan, Sri Lanka, Thailand, Myanmar and Nepal are the members.

"Regional cooperation is not a zero-sum game, it brings benefit to all," he said, referring to EU, ASEAN, NAFTA and many other such regional bodies.

Iftekhar, a former envoy to the United Nations, said the region should intensely focus on poverty reduction "despite the phenomenal economic growth rate that has been achieved in the recent years".

"A continued focus on poverty alleviation and in a larger context the broad area of social development is of paramount importance and the group must accord the highest priority to this area," he said.

He referred to the first BIMSTEC Ministerial Meeting on Poverty Alleviation, which was held last month in Dhaka, and said some progresses were made in identifying ways to collectively address this issue.

Talking about agriculture, the adviser said:

"Apart from the fact that the majority of our population is dependent on agriculture, the impact of rising food prices and food shortages is worst felt by the rural population".

He laid emphasis on developing strategic action plan to increase agricultural productivity in the short, medium and long term.

Referring to SAARC Food Bank, he said: "We may consider establishing similar mechanism under BIMSTEC."

He expressed concern over the increasing trend of criminal activities in the region, saying such criminal elements have potentials to disrupt peace and stability.

"Bangladesh is committed to deal with these issues firmly and decisively. We are heartened at the finalization of BIMSTEC Convention on Combating International Terrorism Transnational Organized Crime and Illicit Drug Trafficking," he said.

Mentioning the BIMSTEC Climate and Weather Centre and BIMSTEC Energy Centre, which would be set up in New Delhi soon, the Foreign Adviser hoped that the centres would be transformed themselves into centres of excellence to meet the need of the member states.

"We compliment the Government of India for their initiatives in this regard. As we have two similar centres under SAARC, the Energy Centre in Islamabad and SAARC Meteorological Research Centre in Dhaka, I hope the two new ones would be complementary to each other," he said.

Moving towards the issue of Free Trade Agreement (FTA), he said FTA is one such measure that holds the promise to increase intra-regional trade.

"I understand the negotiation on a BIMSTEC FTA has been going on for quite sometime now. While we expected the FTA to be concluded and come into effect by July 2006, it is yet be finalised," Iftekhar said.

Putting importance on approaching the issue with a greater sense of urgency, and demonstrating flexibility and accommodation to conclude the agreement without delay, he said: "Bangladesh has withheld announcing a date for next BIMSTEC Trade Ministers Meeting pending the outcome and finalisation of the draft FTA."

"We urge the Trade Negotiation Committee to conclude their negotiations at their next meeting."

He stressed that BIMSTEC FTA would be a more meaningful instrument in contributing towards increasing intra-regional trade "if we are able to remove and dismantle all tariff and non-tariff barriers."

Referring to progress of BIMSTEC Business Visa Scheme, Iftekhar expressed hope that all member states would accord due priority to this to smoothen and facilitate the movement of the business community.

"Easier movement of professionals and people at large as well as simplification of all related procedures would ultimately bring our people closer," he said.

The Foreign Adviser said Bangladesh attaches high importance to connectivity in the region, as it believes to facilitate movement of goods and people across the region.

The BIMSTEC Transport Infrastructure and Logistic and Study (BTILS), which has just been concluded, provides useful insight into the existing weaknesses in transport infrastructure in the member states, he added.

The adviser vowed to continue Bangladesh's stronger engagement to move BIMSTEC forward.

"Bangladesh has been in the forefront of all efforts to institutionalise regional cooperation. I would like to reiterate Bangladesh's offer to host the permanent Secretariat of BIMSTEC in Dhaka," he said.