S. Asian states, Thailand launch economic forum<\/p>\n
BANGKOK (DPA): A new regional forum linking Thailand to
\nBangladesh, India and Sri Lanka was launched yesterday with the
\nbroad goal of boosting economic cooperation in the Bay of Bengal
\nregion.<\/p>\n
The new grouping has not committed itself to intra-regional
\ntariff reductions.<\/p>\n
Senior ministers from the four countries gathered in Bangkok
\nJune 4-6 to hash out the terms of reference for Asia's latest
\nacronym, BIST-EC, which immediately announced plans to promote
\ntourism in a region that encompassed the so-called \"Buddha Belt\"
\nbecause of their common religious and cultural heritage.<\/p>\n
\"Our four countries share a common historical heritage. We now
\nmust make the past relevant to the present,\" said Pitak
\nIntrawityanunt, Thailand's Deputy Minister of Foreign Affairs.
\nThe Bangkok Declaration officially launched the Bangladesh,
\nIndia, Sri Lanka, Thailand - Economic Cooperation (BIST-EC), yet
\nanother regional grouping devoted to promoting mutual economic
\nprosperity.<\/p>\n
Burma, or Myanmar, attended the signing ceremony as an
\n\"observer\" and has been invited to join the new grouping when it
\nis ready.<\/p>\n
It was decided that the BIST-EC secretariat would be based in
\nBangkok, which initiated the BIST-EC concept as part of the Thai
\ngovernment's \"look West\" policy adopted in 1994.<\/p>\n
Thailand aspires to become a bridge between the economies of
\nSouth Asia and the dynamic Southeast Asian region, currently
\ngrouped under the 30 year-old Association of Southeast Asian
\nNations (ASEAN).<\/p>\n
Although essentially a Thai initiative India has thrown its
\nconsiderable economic weight behind the BIST-EC idea.<\/p>\n
\"It was Thailand that conceived this idea, and it was
\nThailand's vision, but India is going to play a very important
\nrole in making that vision a reality, \" said Salaam Iqbal
\nShewrvani, Indian Minister of State.<\/p>\n
\"We have decided to prepare a concept paper on tourism and on
\nthe possibility of starting an airline between our countries
\nwhich will service the Buddhist route,\" he added.<\/p>\n
Thailand originally invited Myanmar, part of Bay of Bengal
\nneighborhood, to join the new forum, but Yangon declined.<\/p>\n
Myanmar's military regime, however, changed its tune over the
\nweekend after learning of its pending acceptance into ASEAN, a
\nmuch older grouping that wields considerable economic and
\npolitical clout.<\/p>\n
Despite Yangon's pariah status among western democracies,
\nThailand has insisted on the importance of its membership in
\nBIST-EC, which will eventually tackle trade and investment
\nissues.<\/p>\n
\"They (Myanmar) are part of the Bay of Bengal. This area,
\nthese five countries, are linked together already,\" said Pitak.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/s-asian-states-thailand-launch-economic-forum-1447893297",
"image": ""
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