The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation, BIMSTEC, Charter was introduced for ratification in the National Assembly yesterday. Introducing the charter to the House, the foreign affairs and external trade minister said that the charter will strengthen the country’s social, economic, cultural, environmental, and political state. The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation was established in 1997 and is represented by the Heads of States of Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand.
“Our country has significantly benefited from being a member of BIMSTEC to do trade with other member countries, to provide support, and to improve opportunities for future development and cooperation. After careful observation, the foreign ministry sees no issues arising as a result of signing the Charter,” said Dr Tandi Dorji, Foreign Affairs and External Trade Minister.
Meanwhile, the Opposition Leader said that even though there are benefits for a small country like Bhutan, concrete evidence of the benefits of being a member of BIMSTEC should be provided.
“We cannot be certain of the concrete evidence regarding the benefits the country has received from joining BIMSTEC. We are not against ratifying the charter, but the Ministry of Foreign Affairs should provide transparent information regarding the specific advantages that the country has gained by being a member of BIMSTEC,” said Dorji Wangdi, Opposition Leader.
According to the foreign minister, even though it has been 26 years since the establishment of BIMSTEC, there was no charter.
After an order to create a charter during the Fourth BIMSTEC Summit held in Kathmandu, Nepal in 2018, a draft charter was signed by the seven-member countries during the Fifth Summit in Colombo, Sri Lanka last year.
The Charter will come into effect 30 days after all seven member states officially validate the charter. Currently, India, Sri Lanka, and Thailand have signed the ratification.
The National Assembly will hold the third reading of the charter on Monday.
Tshering Deki & Namgay Dema
Edited by Sherub Dorji
