Prime Minister Narendra Modi today called for greater cooperation among BIMSTEC nations, asserting that it is time to make the Bay of Bengal a bridge of connectivity, prosperity and security.
In his opening remarks at the fifth BIMSTEC Summit, PM Modi said the results of this landmark summit will write a golden chapter in BIMSTEC's history.
He said India will provide USD 1 million in aid to augment operational budget of the BIMSTEC secretariat.
Koo AppPM Narendra Modi today participated in the 5th #BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) Summit hosted in virtual mode by Sri Lanka, the current chair of BIMSTEC Read here: https://pib.gov.in/PressReleasePage.aspx?PRID=1811269- PIB India (@PIB_India) 30 Mar 2022
"Recent developments in Europe have raised question mark over stability of international order," PM Modi said.
"In this context, it has become important to make BIMSTEC regional cooperation more active," he said, adding that "Regional security is very important now".
PM Modi said that in order to increase mutual trade among BIMSTEC nations, it is important to move forward on the BIMSTEC free trade agreement proposal.
"With our region facing challenges of health and economic security, need of the hour is unity and cooperation," he asserted.
"Today is the time to make Bay of Bengal bridge of connectivity, bridge of prosperity, bridge of security," he said.
Besides India, the BIMSTEC comprises Sri Lanka, Bangladesh, Myanmar, Thailand, Nepal and Bhutan.
The Summit will adopt the 'BIMSTEC Charter' which will give the grouping an international identity and lay out the basic institutional architecture through which it will carry out its work.
With 21.7 per cent of the world's population and combined GDP of USD 3.8 trillion, the BIMSTEC has emerged as an influential engine of economic growth.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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