Amid Russia-Ukraine crisis, PM Modi calls for regional unity and cooperation at 5th BIMSTEC Summit

On Wednesday Prime Minister Narendra Modi, emphasized regional cooperation among the BIMSTEC member states in light of the Russia-Ukraine developments.

While addressing the BIMSTEC summit he said that He added that the developments in Europe over the last few weeks have raised a question mark on the stability of international order.

Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation or BIMSTEC is a regional group constituted of India, Sri Lanka, Bangladesh, Myanmar, Thailand, Nepal and Bhutan. The 5th BIMSTEC Summit is being hosted by Sri Lanka.

Modi said that it is important to enhance the capacity of the Secretariat for BIMSTEC to meet our expectations and suggested that the Secretary-General make a roadmap to achieve this goal.

Modi also said that India will provide financial assistance of one million dollars to increase the operational budget of the Secretariat For this important work to be completed.

He also emphasized the necessity of making early progress on the proposal of the BIMSTEC Free Trade Agreement (FTA) to enhance mutual business.