BIMSTEC summit ends with Oli presenting Kathmandu declaration

The 4th BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) summit successfully concluded in Kathmandu on Friday, with Nepal Prime Minister K.P. Sharma Oli handing over the chairmanship of the grouping to Sri Lankan President Maithripala Sirisena.

Prime Minister Narendra Modi and top leaders of other BIMSTEC member-States attended the two-day summit.

“With a commitment by PM @narendramodi and other leaders to reinvigorate the BIMSTEC process, the #BIMSTECSummit in Kathmandu came to a successful close,” Ministry of External Affairs spokesperson Raveesh Kumar tweeted.

Mr. Oli presented a draft of the Kathmandu declaration, which was unanimously adopted by the member-States.

Addressing the closing session, Mr. Oli said that collective wisdom, thought and vision on the goal of peaceful, prosperous and sustainable Bay of Bengal region was eloquently captured in the Kathmandu declaration.

Energy cooperation
A Memorandum of Understanding was also signed on establishing a BIMSTEC Grid Interconnection to enhance energy cooperation among the member-States.

Mr. Oli congratulated Sri Lanka for assuming the role as new host of BIMSTEC and extended thanks to the heads of states/governments of the member-States for their support in materialising the summit with success.

The BIMSTEC, comprising India, Bangladesh, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal, accounts for 22 per cent of the global population. It has a combined gross domestic product of USD 2.8 trillion

Earlier, Mr. Modi  met Myanmar President Win Myint and discussed ways to strengthen bilateral cooperation. They met on the sidelines of the summit.

“Discussion focused on development cooperation, energy and other areas of bilateral cooperation,” Mr. Raveesh Kumar tweeted.