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Experts on international trade from Bangladesh, India, Myanmar, Thailand and Sri Lanka will meet in Colombo today and tomorrow (June 23 and 24) to conduct negotiations on the draft framework of the agreement of BIMST-EC free trade area. The Group of Expert's (GOE) meeting was decided at the BIMST-EC Trade/Economic Ministers meeting held in March in Colombo, which was headed by Commerce and Consumer Affairs Minister Ravi Karunanayake.

The meeting was called to complete the Framework Agreement for proposed free trade area, which is expected to sign at the next group summit scheduled to be held in Bangkok in February 2004, with the participation of the heads of member states.

BIMST-EC is a unique regional grouping combining three members who are already members of the SAARC and other two members who are members of the ASEAN. It was established in 1997 to foster socio economic progress in the member countries by promoting co-operation in 6 priority sectors, namely, trade and investment, technology, transport and communication, tourism, energy and fisheries. Trade and investment has been further categorized to sub sectors namely, textile and clothing, drug and pharmaceutical, gems and jewellery, floriculture, process food, automotive industry and parts, rubber, tea, coffee, coconut and spices. In order to fast track and promote public private sector corporation among members, BMIST-EC Business Forum was formed in 1998 by representatives of private sector.

The National Chamber of Commerce of Sri Lanka (NCCSL) is the nodal contact in Sri Lanka for this forum.

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