Nepal and Thailand to sign key agreements at BIMSTEC summit
A significant diplomatic development is on the horizon as Nepal and Thailand prepare to sign a series of crucial agreements during Nepalese Prime Minister KP Sharma Oli’s visit to Thailand for the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) summit.
The visit, scheduled from April 2 to 4, will not only focus on the summit but also include a bilateral visit aimed at strengthening ties between the two nations.
Senior foreign ministry officials revealed that multiple memoranda of understanding (MoUs) and agreements will be signed between Nepal and Thailand, with both public and private sectors involved.
These deals are expected to cover various sectors including agriculture, tourism, clean energy, and more. However, the details of the agreements are still under discussion as both sides are in the consultation phase.
“The prime minister’s bilateral visit to Thailand is pivotal for strengthening ties and fostering collaboration,” said Krishna Prasad Dhakal, spokesperson for Nepal’s foreign ministry.
“We aim to secure agreements on technical collaboration in agriculture, tourism, and culture, as well as on innovations in clean energy and hydrogen technology.”
The BIMSTEC summit, which was postponed last year due to a change in the Thai government, will focus on the BIMSTEC Bangkok Vision 2030 and the Eminent Persons’ Group (EPG) report on the future direction of the regional cooperation body.
Rangsiman Rome, People’s Party MP, emphasised that the BIMSTEC region, comprising seven member countries including Nepal and Thailand, represents over 1.7 billion people and a combined GDP of US$4.7 trillion (approximately 159.5 trillion baht), underscoring the significance of this cooperation.
The summit will also aim to finalise the BIMSTEC Free Trade Agreement (FTA), which is expected to significantly boost intra-regional trade and connectivity.
During the summit, Prime Minister Oli is expected to hold bilateral talks with other heads of state, including Indian Prime Minister Narendra Modi, and will take part in preparatory meetings with foreign ministers and senior officials.
Additionally, Nepal’s private sector, including the Federation of Nepali Chamber of Commerce and Industries and the Nepal Chamber of Commerce, will collaborate with Thai counterparts to formalise business partnerships and foster economic growth, reported The Nation.
“Thailand’s advancements in agricultural modernisation are something Nepal can learn from,” said one official.
The bilateral visit will conclude in one day, following which a series of agreements will be signed, marking a new chapter in Nepal-Thailand relations and promising to unlock vast opportunities for both countries.
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