PM proposes Bimstec FTA

Thailand has proposed the creation of a Bimstec free trade agreement (FTA) to enhance intra-regional trade among member countries and strengthen their economies.

- MONGKOL BANGPRAPA PORAMET TANGSATHAPORN

The 6th Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (Bimstec) Summit was held yesterday in Bangkok. Leaders from seven countries — India, Nepal, Bhutan, Sri Lanka, Myanmar, Bangladesh, and Thailand - met at the event to discuss regional cooperation.

The summit is seen as an opportunity to strengthen ties and foster economic, environmental, and technological collaboration among the member states.

Prime Minister Paetongtarn Shinawatra, in her opening remarks, expressed deep condolences for the victims of the recent earthquake in Myanmar, which also impacted Thailand. She led the room in a minute of silence to honour the lives lost and emphasised the importance of solidarity in the face of such disasters.

"As we come together today, we must not only focus on growth but on resilience," she said, highlighting the region's shared challenges and opportunities.

The summit, hosted by the Thai government after a seven-year hiatus of in-person meetings, aimed to discuss a unified vision for the region's future. Ms Paetongtarn presented the "Vision Bangkok 2030", a proposal for a prosperous, resilient, and open future.