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BIMSTEC to launch its economic forum today

By M Anwarul Haq
A B1MSTEC Economic Forum is due to be launched at the 3rd ministerial meeting of the five-member regional organisation in Delhi today.
A four-member team led by State Minister for Foreign Affairs Abul Hasan Chowdhury was scheduled to leave Dhaka last night for the Indian capital to attend the meeting.
The delegation includes former president of Dhaka Chamber of Commerce and Industry' M A Kasem. He Is likely to be nominated to represent Bangladesh in the new Economic Forum which is supposed to work in tandem with both government and private sectors to promote trade and investment among the member countries. The body is also ex-
pected to identify’ impediments to regional trade and find ways to boost it.
The Economic Forum would be the launching pad for greater economic and commercial cooperation among the five-member countries of BIMSTEC. launched in Bangkok on June 6, 1997. The members are Bangladesh, India. Myanmar. Sri Lanka and Thailand.
“The third ministerial meeting of BIMSTEC will launch the Economic Forum and address the issues of mobilising greater private sector investment in the region. It will discuss several aspects of trade, investment and tourism .’ Abul Hasan Chowdury told The Daily Star.
Chowdhury is the outgoing Chairman of BIMSTEC. Indian State Minister for External Affairs Ajit Kumar Panja would now take over as Chairman.
The Issues that may come up at the Delhi meet Include an early start of the Trans-Asian Highway linking the five member-countries and a regional airline service connecting their capitals.
The meeting is being held after change of schedule several times. It was Initially due to be held towards the end of last year.
Discussions on establishing multi-modal communication Including air and sea links are also expected to take place at the meeting.
The first BIMSTEC ministerial meet was held in Dhaka from December 17 to 19 two years back.
The Delhi meet is expected to give the new regional grouping a more durable shape.
Abul Hasan Chowdhury said ESCAP has been authorised by BIMSTEC to conduct a study for construction of a Trans-Asian Highway linking the five member countries. Stretches of the highway already exist and it is a matter of Unking up and providing facilitation services, he added.
Detailed discussions are likely to be held to find avenues to boost trade, investment.
tourism and exchange of scientific data Including meteorological.
Besides, a possible list of tariff concessions and creation of free trade zones in the BMIS-TEC countries would figure at the Delhi meet, the state minister said.
Earlier, the Dhaka meeting had set up working groups focussing on six primary areas. The areas and the countries assigned to make working plans for those are; Trade and Investment--Bangladesh, Technology --India, Transport and Communications—Thailand.
Energy—Myanmar. Tourism and Fisheries—Sri Lanka.
The original grouping comprising Bangladesh, India. Srl Lanka and Thailand started off being called BISTEC.
Later, at a ministerial meeting in Bangkok, the four founding members agreed to admit Myanmar. The organisation was then renamed BIMSTEC meaning Bangladesh. India. Srl Lanka. Myanmar and Thailand for Economic Cooperation.
Initially it was referred to as the 'Bay of Bengal Economic Cooperation Organisation.’
The regional alliance was Initiated considering the great potential of expansion of trade among these countries by taking advantage of their geographical proximity.