Bangladesh PM places three-point proposal to link BRICS with BIMSTEC

Prime Minister Sheikh Hasina has proposed three 'specific' ways for engagement between economic and technological cooperation groups BRICS and BIMSTEC.

The ways she has proposed are to develop quality and resilient infrastructure in BIMSTEC member states, to focus on development of science, technology and innovation capabilities, and to hold talks between BRICS and BIMSTEC for sustainable economic development.

She came up with the proposals at the BRICS-BIMSTEC Outreach Summit in Indian state of Goa on Sunday.

'BRIC' was formed with Brazil, Russia, India and China in 2001. It became BRICS through the joining of South Africa in 2011. The association has formed a bank, New Development Bank, with focus on lending for infrastructure projects.

Before BRICS, an association called 'BISTEC' was formed with Bangladesh, India, Sri Lanka and Thailand in June 1997.

Myanmar joined the group later the same year and the name was changed to BIMSTEC. Nepal and Bhutan became members of the group in 2004.

Now the Outreach Summit of the two groups is being held to find ways to connect them.

At the Summit, Prime Minister Hasina said a large part of BIMSTEC needs to develop quality and resilient infrastructure.

She called for 'special' attention from the two BRICS banks to the opportunities in the low-income countries.

About the proposal to focus on development of science, technology and innovation capabilities, she said, "The world is now focused on ‘learning’. Sizable part of our population needs access to technologies in farming, water, sanitation and basic health. We also need to develop and adopt technologies to address the challenges arising out of climate change."

She urged the BRICS leaders to launch a 'wider' cooperative agenda for technology.

She emphasised on collaboration between the higher education and research institutions in the lower-income countries and the BRICS institutions, which she says lead the world by bringing life-saving solutions and inventions.

Speaking about sustainable economic development, Hasina said both BRICS and BIMSTEC can engage in a ‘conversation’ for this.

"We need to look at sustainability issues with purpose. It could be an opportunity for us to link our value chains and markets aligning with the norms and trends of global supply chains," she said.

"In BIMSTEC, we are working on our own regional value chains. While our countries are at different levels of development, our two groupings can surely join hands on developing value chains for products and services," she added.

In the end, she said all the efforts for sustainable development "depend on peace, security and stability".

She said Bangladesh maintains "zero tolerance" to any act of terrorism or violent extremism as a "responsible member of the global community".

"We must join hands to deal with terrorism and violent extremism as well," she added.