BIMSTEC member countries, Bangladesh, Bhutan, Myanmar, Sri Lanka, Thailand and Nepal, as well as India, discussed a draft pact to promote coastal trade and shipping, as announced by the government on Friday. The aim of the agreement is to facilitate cabotage in the region and thus stimulate trade between Member States. The agreement would apply to coasting, that is, navigation within 20 miles of the coast. The requirements for transporting ships in this part of the sea differ from the standard requirements of deep-sea navigation. Ship movements on the coast require smaller vessels and lower draught, resulting in lower costs. Once the agreement has been ratified by the Member States and put into service, a large number of freight traffic between Member States can be carried out by a cheap, environmentally friendly and faster coasting route. BiMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) meeting last week in New Delhi to discuss how to promote cabotage in the region. During this first meeting of the working group, Member States discussed the draft CABOTAGE BIMSTEC agreement, drawn up by the Ministry of Navigation. BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) met this week in New Delhi to discuss how to promote cabotage in the region. At the BIMSTEC Transport and Connectivity Working Group (BTCWG) meeting in August 2016 in Bangkok, in Thailand, key agreements reached at the BTILS final workshop were discussed, including updated and improved policies/strategies, priority projects, follow-up frameworks, an action plan, thematic and institutional agreements, and the draft mandate (ToR) of the BTCWG and the project monitoring system. „There is an urgent need to finalize the Bimstec cabotage agreement, as the connectivity of waterways is very important,“ he said at the meeting. Shahidul said the World Bank, the Asian Development Bank and the Japan International Cooperation Agency were interested in supporting the Bimstec Development Fund.
Airlines provide cancellation or flight delay certificates to those who want to prove. The purchase will give Laurus Labs access to the biotechnographic space and fermentation capabilities in captivity. Great story What is behind The recovery of India Inc.`s profits? The Heads of State and Government also welcomed the development of the draft BIMSTEC master plan for transport links and called for rapid adoption. The Heads of State and Government agreed that the master plan would serve as a strategic document that would guide actions and foster synergies between the various connectivity frameworks, such as THE ASEAN Connectivity 2025 Master Plan (MPAC 2025), Ayeyawady – Chao Phraya- Mekong Economic Cooperation Strategy (ACMECS) to improve connectivity and sustainable development in the region. „At this first meeting of the working group, on 27 and 28 November, member states discussed the draft BIMSTEC cabotage agreement drawn up by the Ministry of Navigation, the Indian government,“ the ministry said in a statement. PM`s spokesman, Ihsanul Karim, briefed reporters after the meeting. . – DHAKA, 26 January 2020 (BSS) – Prime Minister Sheikh Hasina today stressed the need to conclude the BIMSTEC cabotage agreement in the greater interest of the member states of the regional institution, with Its Secretary-General Shahidul Islam calling for courtesy.