Thailand Prepares to Host 6th BIMSTEC Summit in Bangkok
The summit aims to enhance regional cooperation in various sectors, including trade, health, and environment.
Thailand is set to host the 6th BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) summit in Bangkok from April 2 to April 4, 2023. According to Ministry spokesperson Nikorndej Balankura, the summit will take place at the Shangri-La Bangkok, with assurances that the nation’s infrastructure and facilities remain secure following a recent earthquake.
The theme for this year’s summit is ‘prosperity, resilience, and openness,’ which aims to revitalize the economy through comprehensive connectivity, alleviate poverty by promoting trade and investment, preserve the environment and ensure sustainability, and secure food and public health in the region.
This approach is expected to foster maritime cooperation, expand tourism, and encourage community networking across member states.
During the summit, leaders are expected to endorse the ‘BIMSTEC Leaders’ Declaration’ and the Bangkok Vision 2030, which outlines future directions and procedural updates for the BIMSTEC mechanism.
Additionally, delegates will witness the signing of an agreement on maritime transport collaboration, as well as a memorandum of understanding involving BIMSTEC, the Indian Ocean Rim Association (IORA), and the United Nations Office on Drugs and Crime (UNODC).
The event marks the first summit under the Pheu Thai-led government, and the Ministry encourages a warm reception from the Thai populace for the attending delegations.
Notably, this summit will include visits from notable leaders, including Nepalese Prime Minister K P Sharma Oli and Indian Prime Minister Narendra Modi.
This visit marks a significant milestone as it will be the first by a Nepalese leader to Thailand since the establishment of diplomatic relations in 1959, fostering discussions on strengthening cooperation in economy, society, public health, agriculture, tourism, and governance.
In light of evolving bilateral relations, Thailand and India are set to elevate their partnership to a strategic level, focusing on comprehensive cooperation agreements to enhance collaboration across multiple sectors.
Regarding Myanmar, the participation of the country’s leaders remains unconfirmed, with Thailand prepared to accommodate their involvement either in person or via a hybrid format from Naypyidaw.
As the summit approaches, the potential impact of U.S. import tariffs scheduled to take effect on April 2 is also a concern.
Nikorndej confirmed that the Thai government has formed a working group to discuss negotiation strategies, considering the implications for Thailand’s trade surplus with the United States.
While it is unclear if Thailand will be categorized among the affected nations, the minimum impacts on citizens and enterprises, particularly in the agriculture sector, have been highlighted.
Nonetheless, there is optimism that agreeable adjustments to the tax rate may be reached between both parties.
The theme for this year’s summit is ‘prosperity, resilience, and openness,’ which aims to revitalize the economy through comprehensive connectivity, alleviate poverty by promoting trade and investment, preserve the environment and ensure sustainability, and secure food and public health in the region.
This approach is expected to foster maritime cooperation, expand tourism, and encourage community networking across member states.
During the summit, leaders are expected to endorse the ‘BIMSTEC Leaders’ Declaration’ and the Bangkok Vision 2030, which outlines future directions and procedural updates for the BIMSTEC mechanism.
Additionally, delegates will witness the signing of an agreement on maritime transport collaboration, as well as a memorandum of understanding involving BIMSTEC, the Indian Ocean Rim Association (IORA), and the United Nations Office on Drugs and Crime (UNODC).
The event marks the first summit under the Pheu Thai-led government, and the Ministry encourages a warm reception from the Thai populace for the attending delegations.
Notably, this summit will include visits from notable leaders, including Nepalese Prime Minister K P Sharma Oli and Indian Prime Minister Narendra Modi.
This visit marks a significant milestone as it will be the first by a Nepalese leader to Thailand since the establishment of diplomatic relations in 1959, fostering discussions on strengthening cooperation in economy, society, public health, agriculture, tourism, and governance.
In light of evolving bilateral relations, Thailand and India are set to elevate their partnership to a strategic level, focusing on comprehensive cooperation agreements to enhance collaboration across multiple sectors.
Regarding Myanmar, the participation of the country’s leaders remains unconfirmed, with Thailand prepared to accommodate their involvement either in person or via a hybrid format from Naypyidaw.
As the summit approaches, the potential impact of U.S. import tariffs scheduled to take effect on April 2 is also a concern.
Nikorndej confirmed that the Thai government has formed a working group to discuss negotiation strategies, considering the implications for Thailand’s trade surplus with the United States.
While it is unclear if Thailand will be categorized among the affected nations, the minimum impacts on citizens and enterprises, particularly in the agriculture sector, have been highlighted.
Nonetheless, there is optimism that agreeable adjustments to the tax rate may be reached between both parties.