Wednesday, 05 March 2014 - 8:07
Free trade deal will open new avenues for BIMSTEC region: says President.
President Mahinda Rajapaska said a free trade deal that is being negotiated in countries bordering the Bay of Bengal, will open new avenues for co-operation.
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The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation is a grouping made up of Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal.
President Rajapaksa said a key characteristic of the group has been the meeting of a " ‘Look West’ policy of the ASEAN nations and the ‘Look East’ policy of South Asian countries, which has helped two of the most dynamic regions in the world.