BIMSTEC maritime transport cooperation agreement to enhance port efficiency

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Agreement on Maritime Transport Cooperation (AMTC) was signed on the occasion of the 6th BIMSTEC Summit held on 4 April in Bangkok, Thailand.

The foreign ministers of the BIMSTEC member states signed the agreement, marking a transformative step towards enhancing maritime partnerships in the region.

“With AMTC in place, BIMSTEC now has a comprehensive framework for seamless maritime transport, aimed at reducing logistical bottlenecks and deepening economic integration,” read a press release issued by the BIMSTEC Secretariat in Dhaka on Sunday.

The agreement will enhance port efficiency, harmonise maritime policies, and streamline customs procedures, ensuring smoother movement of goods and services.

Beyond trade facilitation, the AMTC seeks to boost investment in key maritime infrastructure, including ports, shipping lanes, and coastal logistics hubs, fostering regional economic growth and stability.

It also promotes cooperation in maritime safety, environmental sustainability, digitalisation of shipping processes, and capacity-building.

BIMSTEC leaders welcomed the signing of the AMTC, recognising its potential to enhance regional maritime connectivity, facilitate cross-border trade, and spur investment in port infrastructure, logistics, and related sectors.

They also directed relevant authorities to expedite its implementation.

BIMSTEC comprises seven countries – Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand – of the Bay of Bengal region.

It pursues regional cooperation in seven broad sectors – agriculture and food security; connectivity; environment and climate change; people-to-people contact; science, technology and innovation; security; and trade, investment and development.

The cooperation also covers eight sub-sectors – blue economy, mountain economy, energy, disaster management, fisheries and livestock, poverty alleviation, health, and human resource development.