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India Gazette
11 hours ago
- Business
- India Gazette
Union Minister Sonowal envisions BIMSTEC Maritime Transport pact as blueprint to transform Bay of Bengal for tourism
Vishakhapatnam (Kerala) [India], July 14 (ANI): The Union Minister of Ports, Shipping and Waterways (MoPSW), Sarbananda Sonowal inaugurated the second edition of BIMSTEC Ports Conclave on Monday, according to Ministry of Ports, Shipping and Waterways press release. The two-day event played a critical role in strengthening regional maritime connectivity, ports cooperation and sustainable development in the Bay of Bengal region. The event is being attended by policymakers, high end officials, maritime experts, port authorities, private sector stakeholders, and academic scholars from all seven BIMSTEC nations, i.e. Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand, added the release. Envisaging the role of BIMSTEC Ports Conclave as the springboard for sustainable development of port led industrial clusters, the Union Minister Sarbananda Sonowal shared his vision and said, 'The BIMSTEC Ports Conclave stands as a springboard to unlock the immense potential of Blue Economy from the Bay of Bengal region. Under the dynamic leadership of Prime Minister Narendra Modi, India has a 'Neighbourhood First' Policy and in this sees BIMSTEC nations as key partners in regional prosperity.' 'We want this platform to enhance collaboration among all member nations for strengthening port led industrialisation, digital integration and skill development which in turn boost cruise tourism, and foster coastal economic zones. Together, we aim to create a seamless and efficient network of ports that can serve as engines of growth. Through joint feasibility studies, PPP, and skill development of our maritime workforce, we can transform our region into a thriving hub of global trade, tourism, and sustainable economic progress.' he added Building upon the momentum of the 1st BIMSTEC Ports Conclave, the meet aims to operationalise the recently signed BIMSTEC Agreement on Maritime Transport Cooperation (AMTC), facilitate dialogue on port-led development, and foster deeper integration in maritime trade, logistics, cruise tourism, and skill development. The Conclave is designed to chart a common path towards a sustainable, resilient, and integrated maritime future for the Bay of Bengal, promoting robust economic growth while ensuring environmental stewardship. India was first to ratify the agreement. The Union Minister called upon its speedy ratification of AMTC and implementation, added the release. Sarbananda Sonowal announced that a BIMSTEC Sustainable Maritime Transport Centre is going to be established under the Indian Ocean Centre of Excellence for Sustainable Maritime Transport (IOCE-SMarT) at the Maritime Training Institute in Powai, Mumbai. Underlining the role of this centre to operationalise AMTC BIMSTEC, Sarbananda Sonowal said, 'The centre marks a significant step forward in operationalising the BIMSTEC AMTC pact. This Centre will act as a catalyst for harmonising maritime policies, advancing digital and green transformation, and building the skills and capacity of our maritime workforce. By fostering collaboration and innovation, it will help reduce trade costs, enhance connectivity, and position the Bay of Bengal as a vibrant, sustainable hub of regional and global trade.' The Conclave featured two key sessions shaping BIMSTEC's maritime future. The first focused on boosting private sector investment and PPPs to overcome outdated infrastructure and limited coordination, proposing a regional PPP facilitation platform and harmonised laws. The second explored opportunities from shifting global supply chains, highlighting prospects to attract manufacturing hubs in shipbuilding, logistics, electronics, and renewables. Both sessions stressed the need for co-coordinate strategies, improved connectivity, and policy reforms to unlock the Bay of Bengal's potential as a resilient trade and industry hub. The Conclave's sessions focused on operationalising the BIMSTEC Maritime Transport Agreement, harmonising customs and logistics to boost intra-regional trade, and unlocking cruise tourism's potential through PPPs and joint branding. Panels explored plans for port-linked industrial zones, digital integration, and sustainable cruise routes, alongside proposals for a BIMSTEC Ports Coordination Centre and a regional Port Community System. Emphasis was placed on joint investment in multimodal logistics parks, SEZs, and enhancing hinterland connectivity. The need to upskill the maritime workforce through cross-border training, industry-academia ties, and green shipping innovation was highlighted as crucial to the region's future. Collectively, these discussions charted a strategic roadmap to transform the Bay of Bengal into a resilient trade, tourism, and logistics hub. Speaking about Kaladaan project, which is being discussed at the event, the Union Minister Sarbananda Sonowal said, 'The Kaladan Multi-Modal Transit Transport Project stands as a transformative gateway connecting India's Northeast to the Bay of Bengal, dramatically reducing transit time and trade costs while unlocking new economic opportunities for the region. As envisioned by our dynamic PM Modi, under India's Act East Policy, Kaladan is not just a bilateral initiative with Myanmar, but a model for seamless regional connectivity across BIMSTEC. By linking ports, trade corridors, and value chains, it has the potential to catalyse inclusive growth, deepen integration with our neighbours, and bring the Northeast closer to the global marketplace.' 'Through collaborative planning and policy alignment, Kaladan can truly become a cornerstone of our shared vision for prosperity and sustainable development in the Bay of Bengal.' he added. At the inaugural session, the Union Minister Sonowal was joined by the Union Minister of State for MoPSW, Shantanu Thakur, the MP of Visakhapatnam, M Sribharat; the Secretary General of BIMSTEC, Mani Pandey; the Secretary of MoPSW, TK Ramachandran; the Chairman of Visakhapatnam Port Authority (VPA) and Dredging Corporation of India (DCI), M Angamuthu along with 28 delegates from all the BIMSTEC member nations. (ANI)
Time of India
13 hours ago
- Business
- Time of India
Govt envisions BIMSTEC Pact as blueprint to transform Bay of Bengal into global trade hub: Sonowal
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Union Minister Sarbananda Sonowal on Monday said the government envisions the BIMSTEC Maritime Transport Pact as a blueprint to transform the Bay of Bengal into a global trade and tourism to an official statement, the Ports, Shipping and Waterways (MoPSW) minister also said that joint feasibility studies of port-linked industrial zones will be launched inaugurated the second edition of the BIMSTEC Ports Conclave on Monday in Vishakhapatnam."The BIMSTEC Ports Conclave stands as a springboard to unlock the immense potential of the Blue Economy from the Bay of Bengal region," the statement to the statement, the meeting aims to operationalise the recently signed BIMSTEC Agreement on Maritime Transport Cooperation (AMTC), facilitate dialogue on port-led development, and foster deeper integration in maritime trade, logistics, cruise tourism, and skill minister called for the speedy ratification of AMTC and its announced that a BIMSTEC Sustainable Maritime Transport Centre is going to be established under the Indian Ocean Centre of Excellence for Sustainable Maritime Transport (IOCE-SMarT) at the Maritime Training Institute in Powai, about the Kaladan project, which is being discussed at the event, Sonowal said, "The Kaladan Multi-Modal Transit Transport Project stands as a transformative gateway, connecting India's Northeast to the Bay of Bengal, dramatically reducing transit time and trade costs while unlocking new economic opportunities for the region".The event is being attended by policymakers, officials, maritime experts, port authorities, private sector stakeholders, and academic scholars from all seven BIMSTEC nations -- Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand. PTI
Economist
01-07-2025
- Business
- Economist
Thailand and BIMSTEC advance global trade connectivity
A central achievement of the summit was the Sixth BIMSTEC Summit Declaration, which expresses aims such as reaching a BIMSTEC Free Trade Area Agreement, encouraging member countries to explore a cross-border payment system and the settlement of trade in local currencies, and investing in port infrastructure and logistics. Transport by sea and land is part of the connectivity portfolio taken on by Thailand, chair of BIMSTEC from 2022 to 2025. Under BIMSTEC's distinctive functional leadership model, member countries are responsible for particular sectors. So, for example, India is taking the lead on security, and Bhutan on environment and climate change. 'One of the areas we discussed a lot at the summit was maritime and multimodal transport,' says Mr Sangiampongsa. The event saw the signing of the BIMSTEC Agreement on Maritime Transport Cooperation, a framework to reduce logistical bottlenecks and deepen economic integration. In Thailand, a key initiative is to upgrade Terminal F at Laem Chabang Port. This is part of the Eastern Economic Corridor, a special economic zone in three coastal provinces east of Bangkok, which acts as a gateway to the fast-developing markets of South Asia and beyond. Complementing upgraded ports, the India-Myanmar-Thailand Trilateral Highway—currently around 70% complete—will open the way for further road links from BIMSTEC members to Cambodia, Laos and Vietnam via Thailand. 'Thailand is a member of ASEAN, ASEAN Plus China, Japan and Korea, and BIMSTEC,' Mr Sangiampongsa highlights. 'We are sitting in a strategic location where we can link 4bn people together.'
