According to an official joint statement, “The parties called for upholding multilateralism and free trade and further strengthening regional economic and trade exchanges, promoting investment cooperation and cross border logistics. The parties agreed to support enterprises especially SMEs of four countries to utilize e-commerce and other new models for developing cross border trade.”
As per the joint statement, it also mentioned the parties have emphasized efforts are indeed in order to improve the regional economy’s overall competitiveness through establishing more transparent and efficient business aura, as well as, by developing favourable condition to directly attract foreign investments.
The parties also asserted comprehensive connectivity in the digital, energy, aviation, waterways, roads, and rail will escalate competitiveness. The statement added, “It is necessary to further deepen cooperation and promote the substantial building of the BCIM economic corridor.”
The development was made at the 13th meeting of the BCIM regional cooperation conference member nations which took place from June 10 to 11 in Yuxi, China.
2019 marked the 20th anniversary of establishment of the BCIM regional cooperation mechanism. The 14th meeting is already scheduled to take place in India.