BIMSTEC CC to be established

 Kathmandu, Aug. 8

The business bodies of the BIMSTEC member countries have decided to form the BIMSTEC Chamber of Commerce.

This decision was reached at a meeting held during the BIMSTEC Business Summit held in New Delhi, India. The meeting was attended by presidents and representatives of chambers of commerce from the region, as well as the Secretary General of BIMSTEC, Indra Mani Pandey.

The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) will be a founding member representing Nepal, it said in a statement on Thursday.

FNCCI President, Chandra Prasad Dhakal, expressed his happiness that the chamber was about to be formed as per his proposal made last year. He called for the immediate formation and implementation of the chamber's constitution.

The proposal to establish the BIMSTEC Chamber of Commerce was put forward at the BIMSTEC Trade Summit held in New Delhi, India. The proposal was presented at a meeting of representatives of BIMSTEC member chambers on Wednesday.

As per the proposal, one chamber from each member nation will be included in the BIMSTEC Chamber of Commerce. The BIMSTEC Chamber is expected to accelerate the formation and implementation of the BIMSTEC Free Trade Agreement.

According to the discussions held at the meeting, the Confederation of Indian Industry has proposed for the secretariat of the BIMSTEC Chamber to be established at its office in New Delhi. The presidency of the chamber will be held on a rotational basis.

Along with FNCCI President Dhakal, Past President Bhawani Rana and Senior Vice President Anjan Shrestha were also present at the meeting. 

Published in The Rising Nepal daily on 9 August 2024.