Bimstec focuses on master plan for transport

The plan has been studied by the Asian Development Bank (ADB) since 2005 to map out potential and possibilities for transport and logistics.

The study covered land routes, railways, aviation and marine transportation as well as crossborder facilities, said ADB South Asia department directorgeneral Kunio Senga.

The countries in the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (Bimstec) need to set up five expert working groups to break down details of the plan, said Foreign Ministry directorgeneral of International Economic Affairs, Krit Kraichiti.

 Bimstec authorities are required to prioritise projects and open channels for privatesector investment in those projects, Senga said.

 The ADB will help finance further studies conducted by the working groups, he said. It hopes the groups will have a clear plan for investment within six months.

 With the bank's experience in supporting infrastructure development in the Greater Mekong Subregion (GMS), the scheme of public and private sector partici¬pation will be a key of success, Senga said.

 The bank will play a similar role to that undertaken with the GMS, which has helped Burma, Cambodia, China, Laos, Thailand and Vietnam to develop infra¬structure since 1992, he added.

 After the transport plan, the ADB will help encourage concept papers on energy and tourism cooperation within Bimstec, Krit said.

 Established in 1997, Bimstec consists of Bangladesh, Bhutan, Burma, India, Nepal, Sri Lanka and Thailand - countries with a combined population of 1.4 billion.