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The fourth BIMST-EC (Bangladesh, India, Myanmar, Sri Lanka, Thailand Economic Cooperation) Ministerial meeting which was held in Yangon, Myanmar from 19 to 21 December 2001, decided that the future meetings of the apex body should be at full ministerial level, commencing with the next meeting.Sri Lanka will host the first ministerial level meeting in December 2002 and will assume the Chair of the Grouping for one year. The move to upgrade the apex body to full ministerial level, is to give BIMST-EC cooperation further momentum.

Lal Dharmapriya Gamage, Minister Assisting Foreign Affairs, led Sri Lanka's delegation to the recently concluded BIMST-EC ministerial meeting. He pledged Sri Lanka's support for regional cooperation in general and BIMST-EC in particular. Taking stock of the achievements of the Grouping, Assisting Foreign Minister Gamage, while pointing out that BIMST-EC had registered a prudent growth, cautioned that this should not be endangered by undertaking too many pursuits at the same time. He called for a focussed and streamlined approach towards the activities for cooperation based on the Group's priorities.

In the interest of better coordination of activities, the Assisting Foreign Minister recommended that since the member countries were being re-designated to take the lead and coordinating roles in the sectors and sub sectors identified for cooperation, they should propose a possible time frame for the relevant meetings, which would enable a calendar of events for the forthcoming year to be evolved. Sri Lanka was designated as the lead country in the technology sector and in the sub sectors of processed foods and gems and jewellery. The other sectors identified for cooperation in the BIMST-EC region include trade & investment, fisheries, tourism, energy and transport and communication.

Assisting Foreign Minister Gamage underscored the role of the private sector remaining as the engine of growth, in spurring economic development in the countries of the BIMST-EC region. In this regard, he pointed out the important role that the BIMST-EC Economic Forum, comprising representatives of both the private and government sectors, could perform by addressing common concerns of the business sector in the region. He therefore emphasised the need for the early convening of the Economic Forum.

Commenting on the BIMST-EC Economic and Trade Ministers' decision to establish a free trade area in the region, the Assisting Foreign Minister stated that since the twin forces of globalisation and de-regulation could push the unprepared to economic marginalisation, it was gratifying to note the moves of the grouping towards greater open regionalism. He said that an increase in intra-regional trade culminating in a more open trade environment in the BIMST-EC region would assist producers and manufacturers to sharpen their competitiveness, resulting in economic prosperity.

The Assisting Foreign Minister warned that all economic pursuits would be wasted it there was no stable political climate conducive for trade and investment in the region. In this regard he said that the grouping must be continually aware of the threat posed by terrorism in the region. In this regard, the BIMST-EC joint ministerial statement called upon the international community to further intensify its efforts to comprehensively combat terrorism in all its forms. On the part of the grouping, the ministers reiterated their support for the international consensus and resolved to abide by the relevant international legal instruments against terrorism.

Assisting Foreign Minister Gamage briefed the BIMST-EC member states on the progress achieved in the tourism sector and in the textile and clothing sub sector, in which Sri Lanka played the lead country roles for the past three years. He referred to the study undertaken by ESCAP, at the request of Sri Lanka, on the 'Prospects for BIMST-EC Cooperation in Textiles and Clothing following abolition of the Multi Fibre Arrangement'. He proposed that member states examine its recommendations, which could facilitate greater cooperation in this sub sector.

Sri Lanka will also host the next BIMST-EC Trade and Economic Ministers' meeting and the meetings of the Business Forum, comprising the private sector, and the Economic Forum.

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Copyright 2001 The Associated Newspapers of Ceylon Ltd.
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