Connectivity, key enabler of regional cooperation: PM Oli
Kathmandu, Aug. 30:
Prime
Minister KP Sharma Oli has said that the success of the BIMSTEC (Bay of Bengal
Initiative for Multi-Sectoral Technical and Economic Cooperation) would depend
on integrated markets, integrated economies and an atmosphere of confidence for
level playing field for all the member states, including the landlocked and
least developed countries in the region.
“Trade is an engine for
economic growth,” he said while delivering opening speech at the Fourth BIMSTEC
Summit 2018, here on Thursday.
He stressed on lesser
barriers and greater trade facilitations, smooth and uninterrupted transit
arrangements, increased flow of goods and services and scaling up of investment
among the BIMSTEC countries to make the organisation a success.
The Prime Minister
expressed concerns over the nominal intra-regional trade.
“It is unfortunate that
we trade little within the region. An early conclusion of the agreements on
trade in goods and services, investment, mutual assistance in customs matters,
dispute settlement and trade facilitation is the need of hour to enable BIMSTEC
to effectively move forward,” he said.
PM Oli said that the
region’s success would depend on honest and time-bound implementation of all
the instruments that the members signed.
“The world is watching
our gathering here today with keen interest. Since it’s a region with 1.6
billion people representing 22 per cent of world population and 2.8 trillion US
Dollars economy, our vision, commitment and action will have an impact on
global political and economic order. We have assembled here with a solemn commitment
to making the Bay of Bengal region peaceful, prosperous and sustainable,” he
said.
The 21 year old
regional mechanism has seven members – Bangladesh, Bhutan, India, Myanmar,
Nepal, Thailand, Sri Lanka.
PM Oli termed
connectivity as a key enabler for robust regional cooperation.
“Connectivity
-in physical and digital sphere; connectivity of infrastructures and
industries; connectivity of markets and minds can unleash multiplier effects
igniting innovation; spurring growth; and propelling progress,” he said.
“We
need to intensify our investments in the cross-regional transport networks.
Better connectivity of roads, railways, airways, waterways will unlock our full
potential. It can promote meaningful cooperation in trade and investment,
energy, tourism and technology transfer,” he added.
Oli
said that an early adoption of the draft BIMSTEC Master Plan on Transport
Connectivity and timely conclusion of transport related regional instruments
would help advance our cooperation in this critical area.
He
also urged the member nations to adopt a charter of the organisation in order
to provide it a solid legal foundation.
According
to him, the South Asian Association of Regional Cooperation (SAARC) and BIMSTEC
are not the substitute.
“Nepal
stands for meaningful regional cooperation. We believe that SAARC and BIMSTEC
do not substitute but complement each other. We are also committed to advancing
the sub-regional cooperation under BBIN,” he said.
A
strong political will coupled with right mix of policies, institutions and
resources can ensure the success of BIMSTEC, he stated.
This unique platform of
BIMSTEC, not only connects our countries, but also connects South Asia with
South-East Asia. It connects mountains with oceans, reinforcing ecological
interdependence, he said.
According to PM Oli,
the regional mechanism is not just a sum of its parts, or sum of the member
states, it is also an idea. An idea that deeper integration can unleash the
economic dynamism and address the development needs of countries and peoples,
and an idea to accelerate social progress and promote collaboration and
partnership.
“It
can be also an Identity- an identity rooted in rich civilizational heritage, an
identity founded on shared values, an identity shaped by common understanding,
and an identity based on the unity in diversity,” he said.
“It
is also a Destiny- a destiny ordained by the organic linkage of ecosystem
between high mountains and deep seas, a destiny shaped by contiguous geography
as well as potential of robust people-to-people contacts,” he further added.
He
said that the group had a promising potential –with a plethora of
opportunities; with rich natural resources, and dynamic and vibrant
populations.
He
called for the alleviation of poverty in order to lead the region in the path
of progress.
“We
must liberate our people from the clutches of poverty, the brutal clutches that
drag us in a vicious cycle of deprivation – inhumane, unjust and malign – that
drains our potential and ridicule our efforts as well as intentions,” said Oli.
He
urged the member countries for the full implementation of the BIMSTEC Poverty
Plan of Action and suggested leave no one behind while accelerating the economic
development.
According to him, disproportionate
consequences of climate change have adversely impacted the region. Calamities
such as landslides and floods have caused colossal loss.
“To
face this challenge, what we need is collective preparedness to prevent the
perils of such calamities. We also need to intensify collaboration to adapt to
and mitigate the menace of climate change based on the Principle of Common but
Differentiated Responsibility and Respective Capabilities,” he said.
Published in The Rising Nepal daily on 31 August 2018.