Committed to PEOPLE'S RIGHT TO KNOW
Vol. 5 Num 785 Fri. August 11, 2006  
   
Business


FM for equitable trade growth in Bimstec region
Delhi meet fails to set new deadline for FTA


As Bimstec ministerial meeting in New Delhi ended without fixing a new deadline to conclude the FTA negotiations, Bangladesh Foreign Minister Morshed Khan yesterday said all parties should show flexibility to ensure equitable trade growth in the region.

The negotiations on proposed FTA under the seven-nation BIMSTEC framework were scheduled to conclude on July 1 this year. The 9th ministerial meeting that ended in the Indian capital Wednesday could not set any fresh deadline.

"FTA cannot be imposed on any country. FTA can not be effective without equitable development and justice," he told reporters at Zia International Airport on his return from the Bimstec ministerial.

Khan said to make the FTA effective, bigger economies must be cooperative in ensuring the equitable justice for smaller economies of the forum comprising Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand.

Asked about any fresh time-table for implementation of the FTA, he said, "We've to be sensitive about the deadline as we have seen many problems continue to persist even after the signing of the FTA."

He went on to add, "We cannot make undue delay in concluding the negotiations otherwise we may loose out the global market opened for us."

In reply to a question, Khan said the expert group will submit their proposals before the next Bimstec summit to be held in India early next year. Before the summit, the 10th ministerial council will review the progress in the negotiations.

Bangladesh, he said, proposed formulation of Bimstec charter, setting up of a small secretariat in Bangkok, involvement of the private sector and civil society in the group's activities, enhanced cooperation in combating infectious diseases that have cross-border ramifications and redoubling efforts to deal with terrorism in the region.

The Delhi meeting also discussed cooperation in the energy, science and technology, environment, disaster management, tourism and people-to-people contact.

On easing visa regime, he said officials of the Home Ministry and Customs Departments of the member countries would hold meetings shortly to prepare guidelines for easing the visa regime for free movement of the people among of the member countries.

Asked about countering terrorism, he said the concerned agencies of the member states would share information and experiences on how effectively this menace could be tackled.

Khan said the first Trade/Economic Ministers meeting preceded by the senior trade officials meeting will be held in Dhaka in next few months.

Besides, he said Bangladesh would host second Bimstec ministerial meeting on culture and cultural festival in April, 2007, first ministerial meeting on poverty alleviation in 2007.

Khan, who was the chairman of Bimstec, handed over the chair to India at the meeting.

Asked about the dates of the second Bimstec summit in New Delhi, he said one member state proposed Feb 8 next year, but it was not finalised as Bangladesh will be busy with the formation of a new government after the general elections.

Foreign Secretary Hemayetuddin, Secretary (multilateral) AHM Maniruzzaman and other senior officials were present at the airport.