The Indian Chamber of Commerce (ICC) is organising highly anticipated BIMSTEC Business Conclave 2023, from the 13th to the 15th of June at Hyatt Regency in Kolkata. This event marked a notable milestone in fostering regional cooperation and economic integration among the member countries of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC). BIMSTEC Conclave brings together seven member nations to promote economic growth, connectivity, enhanced trade, investment, and much more. This conclave offered plenty of opportunities for networking, idea exchange, and collaboration between attendees. It acted as a facilitator to encourage business collaborations, joint ventures, and technology exchanges between business owners, financiers, influential figures, and policymakers from the member nations.
Many esteemed dignitaries were present for this business conclave like Mehul Mohanka, President, Indian Chamber of Commerce, Ms. Tashi Wangmo, Secretary, Industry, Commerce and Employment, Government of Bhutan, Mr. Wanchai Varavithya Deputy Permanent Secretary, Ministry of Commerce, Government of Thailand, Dr. Shashi Panja, Hon’ble Minister of Industry & Commerce, Government of West Bengal, H.E. Mr. Vijavat Isarabhakdi, Vice Minister, Foreign Affairs, Government of Thailand, Mr. Nurul Majid Mahmud Humayun, Hon’ble Minister, Ministry of Industries, Government of Bangladesh, Mr. Aung Naing 0o, Hon’ble Minister of Commerce, Government of Myanmar, Mr. Ramesh Rizal, Hon’ble Minister of Industry, Commerce & Supplies, Government of Nepal, Dr. Ramesh Pathirana, Hon’ble Minister of Industries, Government of Sri Lanka, Mr. Mahendra P. Lama, Chief Economic Advisor, Government of Sikkim, and Mr. Ameya Prabhu, Sr. Vice President, Indian Chamber of Commerce.
While delivering the welcome address, Mr. Mehul Mohanka, President, Indian Chamber of Commerce, said, “It is a pleasure to welcome all of you to the business conclave this morning. On behalf of the Indian Chamber of Commerce, I express my gratitude to each one of you for taking the time to attend today’s event. By expanding regional trade and investment in crucial sectors, BIMSTEC can play a vital role in progressing the economies and improving the well-being of the people in the region. As a result, it has become critical for BIMSTEC member states to finish and implement the BIMSTEC Free Trade Agreement as soon as possible, fostering economic integration and prosperity within the regional grouping. The business conclave is being organised to facilitate participation and discussions among businesses from these countries, as well as to explore business opportunities, address challenges, find solutions, and foster the possibility of business tie-ups based on market complementarities. I am hopeful that the three-day long stakeholder meetings would produce positive results.”
Ms. Tashi Wangmo, Secretary, Industry, Commerce and Employment, Government of Bhutan, said, “I am privileged to address you today as we convene here to promote economic relations among the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation member states. I am accompanied by a delegation of 20 Bhutanese business leaders, led by the Bhutan Chamber of Commerce and Industries’ respected president and two vice presidents. This event, which brings together entrepreneurs, politicians, and industry experts from Bangladesh, India, Myanmar, Nepal, Sri Lanka, and Thailand, is a wonderful honour for my delegation and myself. This event demonstrates our mutual commitment to regional collaboration and economic progress. Bhutan has been an active participant in the collaborative discussions launched inside the Vincent framework since the beginning of the negotiations. We have continually worked to meet our pledges and obligations, such as implementing three elimination schedules, decreasing the negative list, and carrying out additional responsibilities deriving from the continuing talks.”
Mr. Wanchai Varavithya Deputy Permanent Secretary, Ministry of Commerce, Government of Thailand, said, “I am ecstatic to see such a huge number of people from diverse nations. This meeting represents the strength of our friendships as well as the potential for new ones to be formed. I’d like to thank the Indian Chamber of Commerce for hosting this event, which allows us to share ideas, identify difficulties, and explore potential to make our economies more successful and sustainable.”
Mr. Mahendra P. Lama, Chief Economic Advisor, Government of Sikkim, said, “Today’s proceedings are unique because we have concentrated on developing an innovative and inclusive approach to addressing global challenges. Our goal is to develop an integrated approach that takes into consideration the interests of all participating countries.”
Dr. Shashi Panja, Hon’ble Minister of Industry & Commerce, Govt. of West Bengal, said, “We take immense pride in hosting such a magnificent event in our city. I’d like to thank the Indian Chambers of Commerce, particularly Mr. Mehul Mohanka, President, and all the hardworking members who helped plan this event. Their efforts have been extraordinary. This region, in my opinion, has a substantial interest in future development and prosperity. I am glad to declare that Bengal, due to its strategic geographical location, acts as an essential link between Southeast Asia and South Asia. We frequently showcase Bengal’s industrial strength, emphasising the talented workforce and ample human resources available in our state. We have built a robust industry foundation that has achieved remarkable milestones in social and economic development. Our Chief Minister has always prioritised social inclusion, financial empowerment, and gender equality.”
H.E. Mr. Vijavat Isarabhakdi, Vice Minister, Foreign Affairs, Government of Thailand, said, “I am thrilled to be here in Kolkata, the fast-paced and ancient city ideally placed on the banks of the Ganges River. This forum will surely help to strengthen collaboration and create greater understanding among all of us. The primary goal of our company, which we founded over a quarter century ago, is at the heart of our collaboration. Our goal is to increase trade and investment, strengthen cross-national relationships, and capitalise on the region’s latent potential. We have achieved great progress in a variety of areas in recent years.”
Mr. Nurul Majid Mahmud Humayun, Hon’ble Minister, Ministry of Industries, Government of Bangladesh, said, “Bangladesh has a competitive economy, cheap labour costs, and an English-speaking workforce that is youthful. Its strategic position in South Asia offers it an excellent investment opportunity. We’ve attracted a lot of investors, including several from India. We have also developed special economic zones to facilitate investment even further.”
Mr. U Aung Naing 0o, Hon’ble Minister of Commerce, Government of Myanmar, said, “In the future, rather than depending entirely on federal areas, we should look at stable working circumstances. This may be accomplished via strategic collaboration and thorough planning. On behalf of the development sector, I’d like to extend my heartfelt gratitude to everyone who helped with disaster relief operations. It’s heartening to witness India’s support during these trying times.”
Mr. Ramesh Rizal, Hon’ble Minister of Industry, Commerce & Supplies, Government of Nepal, said, “Nepal’s significance as a location with enormous possibilities for enjoyment and discovery. Several schemes have been implemented to promote growth and dynamism in this quickly changing region. I can confidently educate you about the important players involved after connecting with the community. We have actively participated in a variety of growth sectors. Trade, investment, environmental sustainability, and connectivity must all be emphasised.”
Dr. Ramesh Pathirana, Hon’ble Minister of Industries, Government of Sri Lanka, said, “Firstly, I’d like to express my gratitude on behalf of the Sri Lankan government and people for being a part of this memorable event. As an active and founding member, I believe that our collective efforts in this consortium, comprising seven member countries and a diverse group of nations, are driven by a shared goal: we aspire to foster technological advancements and address conflicts, ultimately promoting sustainable development and creating opportunities for the poor. Our consortium’s geographical position, at the core of this lively and resource-rich region, is a fundamental factor in its significance.”
While delivering the vote of thanks, Mr. Ameya Prabhu, Sr. Vice President, Indian Chamber of Commerce, said, “I’d like to offer my heartfelt appreciation to all of the participating countries and their representatives. In terms of collaboration and partnership, I believe we should appreciate the huge impact of significant strides. Thank you for your time.”