07.04.2025 – (12:01 PM)

In addition, to facilitate transactions and reduce dependence on foreign currencies, we must explore the possibility of digital cross-border payment systems and trade in local currencies. Currently, Myanmar has implemented “baht-kyat” direct payments for trade with Thailand and “rupee-kyat” direct payments for trade with India to make border trade faster and smoother, the Prime Minister said.

Another important area of ​​cooperation in building a prosperous BIMSTEC is connectivity. Strengthening connectivity will promote the development of regional trade, investment and tourism. Therefore, we must accelerate the implementation of the BIMSTEC Transport and Communications Master Plan, which will enhance regional connectivity, the Prime Minister said.

The India-Myanmar-Thailand Trilateral Highway Project will greatly contribute to regional connectivity, and the signing of the Maritime Transport Cooperation Agreement, which will enhance regional maritime connectivity, trade, and port infrastructure investment, the NACC Chairman said.

Energy cooperation is another important pillar for regional prosperity, and prioritizing the BIMSTEC Power Interconnection Master Plan will enable efficient sharing of energy resources and reduce costs. Regional food security is crucial in building a prosperous BIMSTEC, and as our population continues to grow, we must focus on food security to meet the needs of the growing population, the NACC Chairman said.

The Prime Minister, who is also the Chairman of the NASC, said that Myanmar, as the lead country in the BIMSTEC Agriculture and Food Security Sector, has taken the lead in drafting the BIMSTEC Agriculture Cooperation Strengthening Action Plan (2023-2027) and the BIMSTEC Fisheries and Livestock Cooperation Action Plan. He urged all member countries to effectively implement these action plans to address regional food security.