South Asia’s regional association, ‘Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation’ or BIMSTEC, has been contemplating to introduce a standard Schengen type of visa for its member nations.
The member countries of BIMSTEC comprise of India, Bhutan, Bangladesh, Myanmar, Nepal, Sri Lanka, and Thailand.
Bangladesh, Bhutan, India and Nepal (BBIN) nations which share common boundaries, are mulling to commute via roads. They are planning for free vehicular movement and other trade relations with each other. BIMSTEC is starting a consultation process to facilitate free trade agreements which cover a GDP of 1.6 billion people amounting to $3 trillion.
Bangladesh Junior Minister for Foreign Affairs, Shahriar Alam, stated that deliberations should be held on investment services and discussions on goods trade should be expedited. Sharing an opinion on the ongoing developments, BIMSTEC officials said that BBIN deal would encourage investment and pave the way for growth.
