New Delhi, Nov 13: Prime Minister Manmohan Singh on Thursday said BIMSTEC has mooted setting up of a food bank to help needy member states. "An idea was mooted that countries pool their part of resources and set up a food bank for needy countries whenever necessary," he said addressing a press conference after the BIMSTEC summit here.
He said the member countries discussed the role of cooperation with regard to research and extension facilities in which countries of BISTEC can cooperate with each other.
He said there was extensive discussion on issues relating to food security.
To ensure food security, the Prime Minister said the leaders discussed two aspects -- how to increase agriculture production and productivity, which are fundamental to solve the problem of food scarcity.
He said the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) decided to concentrate on 13 sectors including trade and investment, transport and communication, energy, agriculture, tourism, public health, counter-terrorism, environment and natural disaster and people-to-people contact.
Referring to these identified areas of cooperation, the Prime Minister said all BIMSTEC nations would benefit from joint thinking, exchange of best practices and learning from each other's experiences in these areas.
"If cooperation in all these areas grow then all countries of the BIMSTEC region would benefit," he said.
Singh said the BIMSTEC Summit had "nearly completed work" on four areas of cooperation on which formal agreements would be signed soon.
These were a convention on combating international terrorism, trans-national organised crime and illegal drug trafficking, Memoranda of Association on setting up of a BIMSTEC Engineering Centre and a weather and climate centre in India and a cultural observatory in Bhutan.
Replying to a question, the Prime Minister said the global crisis, which originated from the US and Europe, had affected the developing world but had had a "relatively less" impact.
"We are affected, though relatively less than the banking and financial sector of the developed countries," Singh said.
"Our banks are relatively well-regulated. They have adequate capital-asset ratio. Therefore, there is no danger to the health of financial system in the BIMSTEC region," he said.
However, because of the slowdown in the developed countries as a result of financial meltdown, the growth rates in the developing nations might be affected, he said.
Singh said the G-20 should do everything to ensure that the Millennium Development Goals were not adversely affected.
BIMSTEC, which stands for the Bay of Bengal Initiative for Multi-sectoral Technical and Economic Co-operation, is a grouping of seven countries -- India, Bangladesh, Myanmar, Thailand, Sri Lanka, Nepal and Bhutan.
Bay of Begal being used by terrorists to smuggle arms: Lanka
Sri Lanka today sought cooperation of BIMSTEC nations in combating terrorism in the region saying the sea lanes of Bay of Bengal were being used by terrorists to smuggle arms and drugs.
The resolution, adopted by the BIMSTEC nations, "fully reflects our concern" over growing terrorism in the region, Sri Lankan President Mahinda Rajapaksa said at a joint press conference with leaders of BIMSTEC countries.
He said maritime surveillance was required in Bay of Bengal as its sea lanes were being used by terrorists to transport arms and ammunition and drugs.
"We discussed it (at the meeting). All countries and societies of the region are affected by terrorism," Rajapaksa said.
Earlier, Prime Minister Manmohan Singh said all BIMSTEC leaders had stressed that terrorism posed a major threat to the societies and economies and "we need to combat this threat collectively."
He said the BIMSTEC leaders would soon finalise a convention on fighting international terrorism, trans-national organised crime and illicit drug trafficking.
Bureau Report
First Published: Thursday, November 13, 2008, 00:00