At the maiden BIMSTEC Conclave of ports held last week in Vizag, three Memorandums of Understanding (MoUs) were signed between Ranong Port (Port Authority of Thailand) and the Port Trusts of Chennai, Vishakhapatnam and Kolkata.
These MoUs will contribute to BIMSTEC objectives of strengthening connectivity and is part of India’s Act East Policy. These MoUs will enhance connectivity between ports on Thailand’s West Coast and Ports on India’s East Coast i.e. Chennai, Vishakhapatnam and Kolkata. These MoUs will enhance economic partnership by cutting down the sea travel time between India and Thailand from 10- 15 days to 7 days.
The first ever BIMSTEC Conclave of Ports, held at Vishakhapatnam on 7-8 November, was inaugurated by Minister of State for Shipping(I/C), Mansukh Mandaviya. The BIMSTEC region cover 22% of world population and a combined GDP of US $3.71 trillion. At the event, the participating countries discussed ways to strengthen the sea linkages with the member countries.