KATHMANDU: The third energy ministerial meeting of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) concluded on Wednesday.
The meeting issued a 12-point joint statement to facilitate power trade, prepare a master plan on ‘grid connection’ and establish power trade centre.
As stated in the press statement, the virtual meeting agreed to implement grid inter-connection and constitute a ‘BIMSTEC Grid Inter-Connection Coordination Committee’ for preparing necessary work plan.
The meeting also agreed to develop a master plan for BIMSTEC Grid Mutual Installation Coordination Committee with the assistance of the Asian Development Bank. Likewise, the meeting agreed to develop a policy and tariff system for power trade. Also, the meeting reached an understanding to develop a group of experts to frame a plan of cooperation on power trade among BIMSTEC countries.
The BIMSTEC energy centre will be established for undertaking research on energy and exchanging experience as well as strengthening collaboration among the member nations. A master plan and action plan will be developed and a fund required for the operation of centre will also be set up, said the statement.
[caption id="attachment_22280" align="alignnone" width="1000"]
Minister for Energy, Water Resources and Irrigation, Pampha Bhusal, addressing the third meeting of energy ministers from the Bay of Bengal Initiative for Multi-sectoral, Technical and Economic Cooperation (BIMSTEC), held at the Ministry of Foreign Affairs in Kathmandu, on Wednesday, April 20, 2022. Photo: RSS[/caption]
Presiding over the meeting, Minister for Energy, Water Resources and Irrigation Pampha Bhusal said the BIMSTEC countries possess adequate natural resources and stressed that energy and renewable natural resource should be used as energy.
Stressing the need to make adequate financial investment in energy promotion, she said the technology transfer should be promoted in the BIMSTEC region.
(With inputs from RSS) READ ALSO:
