BIMST-EC to promote intra-regional

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BIMST-EC to promote intra-regional cooperation 

Xinhua, Dhakar, 10 November 1999.   Bangladeshi Commerce and Industries 
Minister Tofail Ahmed said Tuesday that members of the BIMST-EC
(Bangladesh, India, Myanmar, Sri Lanka and Thailand-Economic Coorporation) 
have decided to find ways to promote intra-regional cooperation among
themselves. 

Speaking as the chief guest at the inaugural session of the preparatory
meeting of 
the BIMST-EC Economic Forum here, Tofail pointed out that almost all BIMST-EC 
countries in the past faced constraints relating to financial resources for
undertaking
projects. 

"We will vigorously pursue private sector participation from within and
outside the 
BIMST-EC sources for investment in projects," he was quoted as saying by
newspapers 
Wednesday. Tofail noted that with limited success in various areas, the
BIMST-EC 
nations were now planning to address hard-core economic issues such as
investment, 
rules of origin and zero tariffs. "BIMST-EC might be considered as a bridge
linking two blocs --the SAARC (the South Asian Association for Regional
Cooperation) 
and ASEAN (the Association of Southeast Asian Nations)," he said. 

The Commerce Minister said the first meeting of economic ministers of BIMST-EC 
countries held in Bangkok on August 7, 1998, identified six major areas
for cooperation, including trade and investment, technology, transportation
and 
communication, energy, tourism and fisheries. This might gradually expand to 
other areas whenever it was felt necessary. 

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