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BIMSTEC Maritime Deal to Boost Port Efficiency, Regional Integration
A landmark agreement on Maritime Transport Cooperation (AMTC) signed by BIMSTEC member states is set to significantly enhance port efficiency, harmonize maritime policies, and streamline customs procedures, ensuring the smoother movement of goods and services across the region, according to the BIMSTEC Secretariat on Sunday.
The agreement provides the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) with a "comprehensive framework" to enable seamless maritime transport, aiming to reduce logistical bottlenecks and further integrate the region's economies.
In addition to trade facilitation, the AMTC will drive investment into key maritime infrastructure, including ports, shipping lanes, and coastal logistics hubs, which are essential for fostering long-term regional economic growth and stability.
The agreement also emphasizes cooperation in maritime safety, environmental sustainability, digitalization of shipping processes, and capacity-building, marking a multi-faceted approach to improving the maritime sector.
The AMTC was signed during the 6th BIMSTEC Summit in Bangkok, Thailand, recently, where the Foreign Ministers of BIMSTEC member states officially endorsed the deal.
BIMSTEC leaders celebrated the agreement’s potential to strengthen regional maritime connectivity, enhance cross-border trade, and attract investment in critical infrastructure and logistics sectors. They also instructed the relevant authorities to expedite its implementation for tangible benefits across the region.
BIMSTEC, which includes Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand, continues to play a pivotal role in addressing shared regional challenges and fostering economic and security cooperation.