BCIM 2019: Bangladesh, China, India and Myanmar agree to uphold multilateralism, free trade at 13th meeting of forum

China: Bangladesh, China, India and Myanmar (BCIM) on Thursday called for upholding multilateralism and free trade.

“The parties called for upholding multilateralism and free trade and further strengthening regional economic and trade exchanges, promoting investment cooperation and cross border logistics. The parties agreed to support enterprises especially SMEs of four countries to utilise e-commerce and other new models for developing cross border trade,” according to the statement.

The joint statement also mentioned that the parties emphasised that efforts should be made to improve the overall competitiveness of the regional economy by building a more efficient and transparent business environment and by creating a more favourable condition to attract foreign direct investment.

The parties asserted that comprehensive connectivity in rail, roads, waterways, aviation, energy and the digital sector will greatly enhance competitiveness. “It is necessary to further deepen cooperation and promote the substantial building of the BCIM economic corridor,” the statement added.

This was the 13th meeting of the BCIM regional cooperation forum member countries which happened between 10 to 11 June at Fuxian Lake in Yuxi, China. This year marks the 20th anniversary of the establishment of BCIM cooperation mechanism and is themed as a new era of new opportunities for a new decade of the BCIM cooperation.

The 14th meeting of BMIC is scheduled to take place in India.