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New focus: The Prime Minister, Dr Manmohan Singh, with the Prime Minister of Nepal, Mr Pushpa Kamal Dahal Prachanda, and the Prime Minister of Bhutan, Mr Lyonchhen Jigmi Y. Thinley, during a joint press conference at the second Summit of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), in New Delhi on Thursday.

Our Bureau

New Delhi, Nov. 13 The Prime Minister, Dr Manmohan Singh, on Thursday called for strengthening bodies like the International Monetary Fund, the World Bank as also regional banks and regional arrangements so that the fallout of the global crisis is minimal on developing countries.

Stating that there was no danger of the financial crisis affecting the Bay of Bengal region countries, Dr Singh said that the message that he would be carrying for the G-20 meeting will be that the global grouping should do everything to ensure that the process of achieving the Millennium Goal is not adversely affected by the current global crisis.

The G-20 meeting, which the Prime Minister will be attending, begins in Washington tomorrow.

The Prime Minister said this while addressing a joint press conference after the conclusion of the second Summit of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC).

At the meeting it was also decided that the regional grouping will look at 13 sectors for priority consideration including cooperating in combating international terrorism, organised crime and illicit drug trafficking, trade and investment, transport and communication, tourism, poverty alleviation and taking steps to establish greater people-to-people contact.

“We agreed to focus on enhancing our rail, road, air and shipping links to further promote people-to-people contacts and to further facilitate cultural exchange, business and tourist flows,” Dr Singh added.

The leaders attending the summit also expressed their satisfaction at the progress that has been made in the negotiation of a free trade agreement in trade in goods and called for its early conclusion. Another idea which was mooted at the meeting was that countries pool their resources and set up a food bank for needy countries whenever necessary, Dr Singh said.

Addressing the summit, the President of Sri Lanka, Mr Mahinda Rajapaksa, pointed out that while the BIMSTEC nations have “constructively and prudentially” engaged in the process of globalisation, the economic challenges faced by many of its major trading partners, will inevitably have some impact on the pace of growth.

“The situation has, therefore, made all of us very much aware of the protection that regional self-reliance can afford, against global economic uncertainties,” Mr Rajapaksa said.

The meeting was attended by the Prime Ministers of Bhutan, Nepal, Myanmar and Thailand apart from the President of Sri Lanka and Chief Advisor of Bangladesh.

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