Kaladan News

Date: Sunday, August 01, 2004

BIMST-EC Summit Closes with Economic Action Call

Chittagong, August 01: Asian leaders representing 1.3 billion people closed their first ever summit yesterday with a united call for joint economic action, according to the Daily Star of today.

The two-day meeting in Bangkok was the first for leaders since the groups was launched seven years ago, with its short history marked by slow progress towards a free trade deal.

Despite the criticism, the leaders remained bullish about the trade potential through BIMSTEC, designed as a bridge between south Asia and Southeast Asia.

Trade within the group is worth just 3.7 billion dollars, or four percent of their total trade.

The leaders agreed to improve cooperation in areas including terrorism, HIV/ AIDS, trade and investment, transport, education and environment but gave few details.

In a rare public speech, Burma Prime Minister General Khin Nyunt also called for closer economic cooperation between the seven nations. He also said that tourism could help alleviate poverty by creating job opportunities and higher income in rural areas. But failed to mention the political crisis in his country.

Burma, run by a military junta since 1962, is being squeezed by international sanctions imposed because of its slow pace of democratic reform and the continued detention of opposition leader Daw Aung San Suu Kyi.

Indian Prime Minister Manmohan Singh said the group is a key part of its “ Look East” trading policy, but it has to tackle other key issues such as terrorism, religious extremism, gunrunning and drug smuggling.

Bangladesh Prime Minister, Khaleda Zia asked for a meaningful cooperation in transportation and communication linkages, tourism, energy, marine resources, human resources development and people-to people contact.

Thai Prime Minister, Thaksin Shinawatra urged the seven member countries to build their economies to become more than a “ small blip” on the radar screens of the rest of the world. And also warned the fellow leaders, they risked becoming used to life at the bottom of the world’s economic pile despite representing more than 20 percent of the world’s population.

The next summit will be held in India in 2006.

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