The first ever ‘BIMSTEC Ports’ Conclave’ was held in Vishakhapatnam, Andhra Pradesh.
The conclave aims at providing a platform to:
Strengthen maritime interaction and ties between the countries.
Enhance connectivity through port-led initiatives.
Explore the possibility of increasing economic cooperation by furthering EXIM trade and coastal shipping.
Discuss various investment opportunities and best practices adopted for enhanced productivity and safety at ports.
Three MoUs were signed between Ranong Port (Port Authority of Thailand) and the Port Trusts of Chennai, Vishakhapatnam, and Kolkata during the Conclave.
These MoUs form a significant part of India’s Act East Policy. It will also enhance economic partnership by cutting down the sea travel time between India and Thailand from 10- 15 days to 7 days.
BIMSTEC is a sub-regional organization that came into being in 1997 through the Bangkok Declaration. Its members lie in the littoral and adjacent areas of the Bay of Bengal constituting a contiguous regional unity.
