Special Report: Global Financial Crisis    

    YANGON, Nov. 12 (Xinhua) -- Myanmar Prime Minister General Thein Sein is due to leave Nay Pyi Taw later on Wednesday for New Delhi to attend the Second Summit of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) scheduled for Thursday.

    The BIMSTEC now comprises seven members -- Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal with the prior five standing as the original members sharing the Bay of Bengal since its founding in 1997. Bhutan and Nepal joined in 2004..

    The grouping, aimed at promoting multi-sectoral cooperation foreconomic and social progress of the region, outlined six areas of cooperation in 1999 and the areas were increased to 13 in 2006.

    The 13 sectors are known as trade and investment, technology, energy, transportation and communication, tourism, fisheries, poverty alleviation, agriculture, cultural cooperation, counter-terrorism and transnational crime, environment and disaster management, public health and people-to-people contact.

    Myanmar has been active in cooperation with BIMSTEC member countries and out of the 13 sectors of cooperation of the sub-regional economic grouping, Myanmar shares the duty of the leading country in the sectors of transportation, communication and agriculture.

    Of these sectors, Bangladesh also shares the duty of the leading country in trade and investment, while India in technology, energy, counter-terrorism and transnational crime, and environment and disaster management, Sri Lanka in tourism, Thailand in fisheries and public health, Bhutan in cultural cooperation and Nepal in poverty alleviation.

    Over the period of the past decade, the BIMSTEC was able to carry out the endorsement of the framework agreement on the BIMSTEC Free Trade Area, designation of 2004-05 as Visit BIMSTEC Year, establishment of BIMSTEC Chambers of Commerce and holding of the first BIMSTEC youth football tournament in Phuket, formation of the Central Department of BIMSTEC activities in Bangkok and implementation of bio-gas project in Myingyan township in Myanmar.

    Myanmar joined the BIMSTEC in August 1997 soon after integration into the Association of Southeast Asian Nations (ASEAN)in July.

    The BIMSTEC consists of certain ASEAN countries and members of the South Asia Association for Regional Cooperation (SAARC), serving as a bridge to link the two regional organizations.

    The BIMSTEC also represents the outcome of the integration of Thailand's "Look West" policy and India's "Look East" policy. Thailand adopted the look west policy with the aim of extending economic and trade ties with its western neighbors -- South Asian nations. Likewise, countries of the Indian sub-continent laid down the "look east" policy to establish close economic relations with Southeast Asian nations after witnessing the latter's economic growth, economists commented.

    Meanwhile, Myanmar is making a feasibility study to build a deep-sea port in the country's southern coastal Tanintharyi division to facilitate maritime trade with neighboring countries. Proposed by India at a foreign ministers meeting of the seven-member BIMSTEC held in Phuket, Thailand in February 2004, the prospective deep-sea port project stands one of the priorities among future programs of the sub-regional economic grouping.

    On completion of the project, cargo vessels from the Middle East, Africa and Europe can avoid crossing the Malacca Strait for access to China, Thailand, Vietnam and Laos, experts said.

    A study of the ministry also revealed that these cargo ships from the region can save about 1,250 nautical miles (2,316 nautical kilometers) and four days' time compared with transiting through Singapore.

    Marine officials also said once the project is implemented, it could carry out trade from the Dawei deep-sea port with Bangkok within a day which is only a 300 kilometers' voyage.

    Meanwhile, Myanmar is also conducting a survey to build another deep-sea port on the Maday Island in Kyaukphyu, western coastal Rakhine state, to serve as a transit trade center for goods destined to port cities of Chittagong, Yangon and Calcutta.

    Kyaukphyu also stands at a point on a proposed land route connecting southwestern China's Kunming in Yunnan Province with Myanmar's Sittwe through Mandalay. The overall road link between Myanmar and China under study is outlined as Kunming-Mandalay-Kyaukphyu-Sittwe.

    Implemented with the help of India as part of the BIMSTEC cooperation projects, a bio-gas plant project in Mingyan township, Myanmar's Mandalay division, was completed in July 2007 for electricity transmission to villages in the division, according to an earlier local report.

    The construction of the bio-gas plant by India's Tele Corporation was aimed at the most effective use of energy in the seven-member BIMSTEC countries.

    With a population of over 1.3 billion accounting for 21 percent of the world population, the BIMSTEC registered a gross domestic product of 750 billion U.S. dollars and a trade volume of 33 to 59billion dollars under the BIMSTEC free trade area scheme.

    Intellectuals and private organizations are being urged to work hard together for the development of the respective sectors so that the BIMSTEC can help members to enjoy greater economic growth and practise the market economic system.

    The first summit of the grouping was held in Bangkok, Thailand in 2004.

    Myanmar is reported to take over the chairmanship of the BIMSTEC from India this year under the rotation system for the status of the member countries in alphabetical order.