PM Modi Delivers Keynote Speech At BIMSTEC Summit, Unveils New Initiatives

PM Narendra Modi delivered an impactful speech at the closing of the 6th BIMSTEC Summit in Thailand, outlining key areas for enhancing regional cooperation and commitment to a prosperous, secure, and inclusive Bay of Bengal region.

Expressing his gratitude to Thailand’s PM Paetongtarn Shinawatra, PM Modi commended Thailand’s effective leadership over the past three years in guiding BIMSTEC, which serves as a vital bridge between South and Southeast Asia.

BIMSTEC As Regional Powerhouse

PM Modi emphasized the growing importance of BIMSTEC as a powerful platform for advancing regional connectivity, cooperation, and shared prosperity.

He highlighted that the BIMSTEC Charter, which came into effect last year, would strengthen the collective commitment of member nations to building a prosperous and inclusive region.

“We are adopting the Bangkok Vision 2030 today, which will further our commitment to this goal,” PM Modi said in his address.

PM Modi Unveils Key Announcements For Cooperation

PM Modi unveiled several key initiatives aimed at furthering BIMSTEC cooperation.

He announced that the BIMSTEC Energy Centre, based in Bengaluru, has commenced its operations, and India is ready to share its expertise in Digital Public Infrastructure with BIMSTEC nations.

He proposed the integration of India’s Unified Payments Interface (UPI) with the payment systems of BIMSTEC countries, which would enhance economic activity and benefit trade, industry, and tourism across the region.

Proposals To Enhance Economic Engagement

To boost economic collaboration, PM Modi proposed the establishment of a BIMSTEC Chamber of Commerce and the organization of an annual BIMSTEC Business Summit.

Additionally, he recommended conducting a feasibility study to explore the potential for trade in local currencies within the BIMSTEC region, which would further streamline regional commerce.

BIMSTEC Centre Of Excellence For Disaster Management

In response to the recent earthquake in the region, PM Modi announced plans for the establishment of a BIMSTEC Centre of Excellence for Disaster Management in India.

The Centre will facilitate cooperation on disaster preparedness, relief, and rehabilitation efforts.

Additionally, the fourth joint exercise among BIMSTEC Disaster Management Authorities will be held in India later this year.

PM Modi Proposes Health And Agriculture Initiatives

In another important announcement, PM Modi proposed support for cancer care training and capacity building across BIMSTEC nations. India will also set up a Centre of Excellence to promote research and traditional medicine in the region.

Furthermore, PM Modi suggested the creation of a Centre focused on agriculture, which will foster research collaboration and capacity building in the sector.

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