Members of BIMSTEC - Bangladesh, India, Myanmar, Sri Lanka and Thailand Economic Cooperation - today agreed to accept Nepal and Bhutan as members of the group, in an effort to tap the region's immense tourism potential. The inclusion was approved at the sixth meeting of the expert group held in New Delhi, where the year 2004 was declared ''Visit BIMSTEC Year''. A joint strategy to exploit tourism opportunities will be launched.

Courtesy: The Indian Express, January 24, 2004

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Building on the historic Indo-US decision to cooperate in civilian nuclear, space and missile programmes, External Affairs Minister Yashwant Sinha met American President George W Bush at the White House and discussed the next steps to carry forward the "strategic partnership" between the two countries. During the 20-minute meeting, President Bush also congratulated Mr Sinha on the "important progress" made in the relations between India and Pakistan." They also discussed the next steps in the strategic partnership between India and the United States" The President also congratulated the Foreign Minister on the important progress being made in the relationship between India and Pakistan. The visit is being seen as significant after the recent statement by President Bush on easing the transfer of hi-tech to strengthen the strategic relationship between the world's two most populous democracies.

Courtesy: The Pioneer, January 21, 2004

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The United States and India will closely collaborate in areas of disaster management. A $ 16 million five-year Government-to-Government programme has been launched jointly. The US Agency for International Development (USAID) and Ministry of Home Affairs (MHA) will now cooperate in areas of disaster management science, technology and systems. The American agency will impart its expertise and experience to mitigate disasters. "This is a result of the shared vision between the US and India," a US embassy release said.

Courtesy: The Pioneer, January 20, 2004

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India on Friday announced a soft loan of $10 million to Mongolia .The soft loan would be for procurement of items from India and for India-linked projects in Mongolia, a joint statement issued at the end of the six-day visit by Mongolian Prime Minister Nambariin Enkhbayar, said. Underlining the importance of reforms and restructuring of the UN system, Mongolia said it would "fully support" the candidature India, a large democracy and "emerging economic power", for permanent membership of an enlarged UN Security Council.

The two sides decided to further develop and strengthen defence cooperation, within the framework of the agreement on cooperation in defence matters, including training of Mongolian military officers in India During the visit the two countries signed five agreements and agreed to elevate their relations to a new level of partnership, the statement said. Both sides condemned the menace of international terrorism and its devastating effect on democratic societies.

Courtesy: www.timesofindia.com, January 16, 2004

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India and Bahrain on Tuesday signed an extradition treaty and four agreements, including one to promote bilateral investments, following wide-ranging talks between Prime Minister Atal Bihari Vajpayee and his Bahrain counterpart Shaikh Khalifa Bin Salman Al-Khalifa. The documents were signed after the two leaders held talks for over an hour at Hyderabad House. They met first with only close aides present and this was followed by delegation-level talks. Official sources said they discussed steps to enhance bilateral economic and trade ties. The India-Pakistan peace initiative, the situation in the Middle East and Iraq also figured in the talks, they added. Officials said the signing of the extradition treaty is a reflection of the determination of the two countries to take "concrete steps to combat terrorism" and to cooperate in suppression of crime. Indian Finance Minister Jaswant Singh and Bahrain's Transportation Minister Sheikh Ali Bin Khalif Al-Khalifa signed the pact. The Bilateral Investment Promotion and Protection Agreement were signed by Jaswant Singh and Bahrain's Finance and National Economy Minister Abdulla Hassan Saif. It aims at encouraging and protecting such investments with a view to stimulating business and investments between the two countries. The other agreements signed were one on mutual legal assistance in criminal matters, by Jaswant Singh and Bahrain's Cabinet Affairs Minister Mohammed Ebrahim Al-Muttawa, and the agreement on mutual legal assistance in judicial, commercial and civil matters, by External Affairs Minister Yashwant Sinha and Al-Muttawa.

Courtesy: The Times of India, January 14, 2004

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Describing as just and logical India's claim to permanent membership of an enlarged United Nations Security Council, Sweden today called for speedy reforms of the world body where small and medium countries like it are treated in a fair way. "I think India's claim is logical. I can't see that it is possible to go through reforms without India's support. India is a key player and with the biggest population, it is natural that they sit at the table," the Swedish Prime Minister, Goran Persson, said here after launching an Ericsson network management centre in Gurgoan here. The Swedish Prime Minister also referred to his talks with the Prime Minister, Atal Bihari Vajpayee, and the External Affairs Minister, Yashwant Sinha, and said that the issue of India-Pakistan peace process and U.N. reforms were discussed. They also touched upon the situations in West Asia, Afghanistan and Iraq, besides areas of cooperation between the two countries, he said, adding that Sweden was looking forward to further consolidation of ties between the two countries.

Courtesy: The Hindu, January 11, 2003

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The seven SAARC countries on Tuesday signed a treaty that would lead to free trade and movement of goods paving the way for South Asian economic Union along the lines of EU in future.

India in Saarc

• India's trade with SAARC countries was Rs 14,933 crore in 2002-03, only 2.71 pc of its global trade.

In Simple Terms

• Free movement of goods and services across the borders.
• Free movement of people to work in other countries in the region.
• Common currency in the region at some stage.
• Access to cheaper goods from other markets - Pakistanis could import 30 to 40 pc cheaper Suzuki cars from India or Bangladesh IT engineers could seek better jobs in India.
• Forming joint ventures with companies in these countries.

We and WTO

• Bargaining powers of a regional group increases especially for under-developed countries like Bhutan, Nepal, Myanmar who could gain from being with larger countries like India.
• For India, it could mean even better bargaining position as it would always be a psychological leader in the region by virtue of its size and could then talk as a leader of a regional block besides being a large power.

India's Gains

Courtesy: The Indian Express, January 07, 2004

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Terming the framework agreement on South Asian Free Trade Agreement (Safta) as a 'major milestone,' India and other Saarc countries decided to work towards creation of a South Asian Economic Union and establishment of a regional food bank as part of their plan of action to alleviate poverty. At the conclusion of the three-day summit, the seven Saarc members adopted 'Islamabad declaration,' which also decided to conduct a study for creating a South Asian Energy Cooperation, including the 'energy ring,' and examine setting up of South Asian Development Bank.

Courtesy: The Economic Times, January 07, 2004

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India, Brazil and South Africa on Tuesday said they would work towards increasing trilateral cooperation in defence and develop concrete steps to jointly address issues like opening of markets and agri subsidy in WTO negotiations. Talking to reporters after the trilateral ministerial meeting held here to discuss issues of economic development and poverty alleviation, South African Minister for Economic Development Essop G Pahad said discussions between the three nations and trilateral cooperation was critical to put up a common front to address issues in the WTO. The meeting was held to strengthen and concretise the trilateral relations, Pahad said, "This will have far greater consequences for the economies of southern region". South Africa showed keenness to learn from India's experience in the development of SMEs and SHGs, he said, adding the three nations should act in cohesion to boost trade and investment in the region. The meeting took note of India's decision to allocate 200 million dollar for projects that contributed to realisation of New Partnership for Africa's Development (NEPAD) objectives as the regeneration of the African continent and the creation of the Trust Fund to Poverty and Hunger Alleviation.

Courtesy: The Economic Times, January 06, 2004