By INAM AHMED DHAKA, Bangladesh, April 28 (UPI) -- Bangladesh, India, Myanmar, Sri Lanka and Thailand have decided to work toward establishing a free-trade zone to boost trade and investment in the region.
The decision was taken at the second ministerial meeting of the five countries that are part of the Bangladesh, India, Myanmar, Sri Lanka and Thailand Economic Cooperation group. A proposal for the free-trade zone will be ready within six months. It will be prepared by an inter-governmental group comprising officials dealing with international trade.
The commerce ministers of the five countries attended the one-day meet here on Thursday.
The move to set up the free-trade zone is in keeping with the "shared vision of prosperity" through increased trade and economic cooperation, the chairman of the meeting, Indian Commerce Minister Murasoli Maran, said.
He said the meeting also decided to go ahead with the proposal to establish proper transport links between the BIMST countries through a project known as Southern Corridor of the Trans Asian Railways and Asian Highways Project.
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