SL joins key BIMSTEC maritime transport pact

By Nuzla Rizkiya

Sri Lanka yesterday joined a key regional maritime transport cooperation pact of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), in an effort to improve connectivity and trade among the member states.

Termed ‘BIMSTEC Agreement on Maritime Transport Cooperation’, the pact was signed by the foreign ministers of all seven BIMSTEC member countries during the 20th BIMSTEC Ministerial Meeting in Bangkok, Thailand, held a day ahead of the Sixth BIMSTEC Summit.

Sri Lanka’s delegation at the signing ceremony was led by Foreign Affairs and Foreign Employment Deputy Minister Arun Hemachandra.

Hemachandra stated that the agreement is a crucial step in strengthening maritime transport collaboration to reinforce Sri Lanka’s role as a strategic hub in regional trade and logistics.

“As the lead country in Science, Technology and Innovation, the Deputy Minister informed that the BIMSTEC Technology Transfer Facility to be established at the earliest as a commitment of Sri Lanka,” the Foreign Ministry stated.

The agreement is expected to improve maritime connectivity among the BIMSTEC nations by facilitating smoother trade and economic integration across the Bay of Bengal region.

Additionally, Sri Lanka, in its capacity as Chair of the Indian Ocean Rim Association (IORA), also welcomed the signing of a memorandum of understanding between BIMSTEC and IORA that will further improve regional partnerships.

Meanwhile, the foreign ministers at the meeting also finalised the draft Provisional Agenda for the Sixth BIMSTEC Summit, set to take place this week, along with the draft Summit Declaration. 

The member nations also agreed to hold the 21st BIMSTEC Ministerial Meeting in Dhaka, Bangladesh.