Third BIMSTEC summit 2014 held in Myanmar

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Third BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) Summit was held from March 1 to March 4, 2014 in Nay Pyi Taw, Myanmar . The Third BIMSTEC summit was attended by the heads from six countries and special Envoy of the Prime Minister of Thailand, namely Prime Minister of India Prime Minister of Bangladesh Prime Minister of Nepal President of Sri Lanka Prime Minster of Bhutan President of Myanmar.

Highlights of the Summit

The members recognised the threat that terrorism poses to peace, stability and economic progress and agreed for closer cooperation in combating all forms of terrorism and transnational crimes.  The members agreed to explore collaborative initiatives amongst the Member State towards addressing the adverse impacts of climate change in the BIMSTEC region.
The member decided to move forward towards finalization of the draft Agreement on Trade in Goods with agreed General Rules of Origin and product  specific Rules. It was also decided to work in the direction of signing an agreement on dispute settlement procedures  and the Agreement on cooperation and Mutual Assistance in customs Matters under the Framework  Agreement on the BIMSTEC Free Trade Area. The members agreed to set up the BIMSTEC Network of Policy Think Tanks and agreed to cooperate and coordinate for organizing activities like workshops and seminars, which includes audio-visual programmes to create public awareness on BIMSTEC.

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