ICC organized BIMSTEC Energy Conclave

Online Desk

08 Aug 2023, 19:18

The Indian Chamber of Commerce (ICC) organized the BIMSTEC Energy Conclave on Sunday, August 06. High Commissioner of India Pranay Verma graced the occasion as the Chief Guest.

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In his speech, High Commissioner highlighted the importance of regional cooperation under BIMSTEC in the context of the current global uncertainties. He underscored that the India-Bangladesh relation is an important anchor of the cooperation architecture of BIMSTEC.

High Commissioner Verma said that an important area of cooperation among the BIMSTEC countries is to enhance energy cooperation and electricity trade, and the signing of the MoU on establishment of BIMSTEC Grid Interconnection is a step in that direction.

He said that a hallmark of the ever-deepening India-Bangladesh relationship is the growing cooperation in the field of power and energy. An important example of this is the India-Bangladesh Friendship Pipeline which was inaugurated by Prime Ministers of India and Bangladesh in March this year which has a capacity to transport one million Metric Tonnes Per Annum of High-Speed Diesel to Bangladesh in a sustainable, reliable and cost-effective way with minimal carbon footprint.

High Commissioner highlighted the importance of the proposal for 765 kV cross-border electricity interconnection between Katihar (India) – Parbatipur (Bangladesh) – Boranagar (India) and its potential to revolutionize intra-regional electricity trade.

He emphasized that this project can be an important starting point to develop a synchronous and robust grid interconnection in the sub-region which can facilitate seamless exchange of power between energy surplus and deficient regions.

He further said that such interconnections would also help drive investments in the Renewable Energy Sector promoting generation and transmission of clean energy in the region.

High Commissioner Pranay Verma said that the connectivity cooperation between India and Bangladesh towards developing multi-modal linkages stands at the forefront of sub-regional connectivity aspirations under BIMSTEC. Restoration of five of the seven pre-1965 railway linkages, five cross-border buses, the Protocol on Inland Waterways Trade and Transit (PIWTT) and a Coastal Shipping Agreement, are all examples of these multi-modal linkages.

High Commissioner highlighted the importance of building a robust physical, energy and digital connectivity tohelp boostintra-BIMSTEC trade that still remains limited. He said India and Bangladesh on their part have taken important steps in the last few years for improving the cross-border trade and immigration infrastructure including upgradation of infrastructure at 36 Land Customs Stations.

In the area of digital connectivity, High Commissioner said that both countries are in the midst of a programme for exchanging 50 start-ups from both sides with the objective to promote collaboration in digitization, innovation and entrepreneurship. The recent inauguration of the India-Bangladesh ‘Start Up Bridge’ provides an institutional gateway for the startup communities to engage and explore knowledge-sharing, niche markets and business collaborations.

High Commissioner Verma said that the cornerstones of India’s foreign policy, i.e., "Neighbourhood First Policy” and "Act East Policy”,both intersect at BIMSTEC. He further said that India remains strongly committed to further building the momentum towards deepening of regional cooperation under the BIMSTEC framework and will work closely with Bangladesh and all BIMSTEC partners towards making the organization stronger, more vibrant and resilient, and more effective and result-oriented.

The event was also attended by Special Guests including H.E. Tenzin Lekphell, Secretary General, BIMSTEC, H.E. Aung Kyaw Moe, Ambassador of Myanmar, Mr. Jigdrel Y. Tshering, Cd’A, Embassy of Bhutan, Mr. Md. Nurul Amin, Chairman, Bangladesh Energy Regulatory Commission, and Mr. Abdul Matlub Ahmad, President, India-Bangladesh Chamber of Commerce & Industry (IBCCI). Also in attendance were members of ICC and IBCCI.

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