ET GBS 2017: Keep initiative people-centric, say panelists

NEW DELHI: The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) should be more people-centric and not turn into an institution on lines of the European Union, said most members of the grouping that is 20 years old now.

At a panel discussion titled ‘Aspirational BIMSTEC’ at the Global Business Summit, members from Myanmar, Bangladesh, Sri Lanka and India said BIMSTEC ownership must move away from the government to the people it aspires to work for. Thailand, Bhutan and Nepal are other members of the grouping.

“BIMSTEC headquarters are in Dhaka but no one in Dhaka knows about it,” said Abdul Matlub Ahmad of Federation of Bangladesh Chambers and Commerce Industry. “Many projects are still in the process because ministerial meetings get delayed. Governments should look at private sector investment to move forward.”

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Enthused by India’s outreach during the Goa summit in 2016, Sri Lanka’s minister for housing and construction, Sajith Premadasa, suggested setting up a BIMSTEC fund for development projects.