BANGKOK, Thailand – Thailand plays a significant role in driving cooperation in various aspects to expand trade and investment opportunities among member states in the Bay of Bengal, in the following ways:
– Implementing the BIMSTEC Free Trade Agreement (BIMSTEC FTA): The BIMSTEC FTA would lower trade and investment barriers, help stimulate the economy of BIMSTEC members, and allow Thai entrepreneurs to access a large market consisting of over 1.7 billion people;
– Enhancing connectivity: This includes the promotion of port connectivity, grid connectivity, and maritime logistics, as well as facilitation of trade in goods and cost reduction;
– Preparing for the FTA: Thailand places importance on developing the skills and abilities of Thai entrepreneurs, enabling them to increase their competitiveness in exploring new markets;
– Encouraging other fields of cooperation: These include energy promotion, tourism, agriculture, public health, environment, and sustainable development.
As chair of BIMSTEC, Thailand stands ready to work with all member states in driving cooperation within the BIMSTEC Framework for mutual benefit, reflecting the ability and commitment of Thailand to provide greater economic opportunities and deal with new future challenges.
Follow Thailand’s roles as host of BIMSTEC with broader economic cooperation at the regional level together! (PRD)
Thailand to host 6th BIMSTEC & related meetings on 2-4 April 2025 in Bangkok
As chair of BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) during 2022-2025, Thailand is going to host the sixth BIMSTEC Summit and related meetings, from 2 to 4 April 2025 in Bangkok.
Key deliverables for the upcoming summit include the BIMSTEC Bangkok Vision 2030, the Report of the Eminent Persons’ Group on the Future Direction of BIMSTEC, and the BIMSTEC Summit Declaration.
BIMSTEC, established in 1997, stands as a pivotal organization fostering regional cooperation between South and Southeast Asia, comprising seven Member States, namely Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand. The BIMSTEC region encompasses over 1.7 billion people and has a combined GDP of USD 4.7 trillion. Under Thailand’s chairmanship from 2022 to 2024, BIMSTEC aspires to achieving a “Prosperous, Resilient, and Open” region, known as “PRO BIMSTEC,” by 2030.
