Kaladan News

Date: Saturday, June26, 2004

Rangoon Signed Protocol Yesterday with other BIMST-EU Countries

Chittagong, 26: Burma signed a protocol with other BIMST-EC countries yesterday as the prelude to outstanding a deal for free trade among the Bay of Bengal communities, according to UNB, Dhaka.

Burma Deputy Minister of foreign Affairs U Kyaw Thu and Thai Commerce Minister Watana Muangsook and ambassadors from the other five countries signed the Protocol yesterday.

Thai commerce ministry hosted the protocol-signing ceremony, for the Bangladesh, India, Myanmar, Sri Lanka and Thailand Economic Cooperation (BIMST-EC) Agreement, according to reports.

India, Burma, Sri Lanka and Thailand, as well as new members of the sub-regional grouping--- Buthan and Nepal--- signed the Free Trade Area (FTA) at a meeting in February 2004 in Phuket. But, Bangladesh didn’t sign the deal at the time.

Free-trade negotiations among the BIMST-EC countries are expected to begin next month and wrap up by December 2005, to ensure the FTA’s projected implementation in July 2006. ##

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