Trade Share of India with BIMSTEC Countries
The trade share of India with the Bay of Bengal initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) countries i.e. Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand for the financial year 2014-15 is as under:-
| S. No | Country | 2014-15 | |||
| Export
(in US $ Millions)
| % share (w.r.t. total export) | Import
(in US $ Millions)
| % share (w.r.t. total import) | ||
| 1 | Bangladesh | 6,451.47 | 2.08 | 621.37 | 0.14 |
| 2 | Bhutan | 333.94 | 0.11 | 149.87 | 0.03 |
| 3 | Myanmar | 773.24 | 0.25 | 1,231.54 | 0.27 |
| 4 | Nepal | 4,558.77 | 1.47 | 639.91 | 0.14 |
| 5 | Sri Lanka | 6,703.72 | 2.16 | 756.17 | 0.17 |
| 6 | Thailand | 3,464.83 | 1.12 | 5,865.88 | 1.31 |
The Framework Agreement on BIMSTEC Free Trade Agreement (FTA) was signed in February 2004. The Framework Agreement includes provision for negotiation of FTA on goods, services, investment and economic cooperation amongst the member countries. The Member countries of BIMSTEC have constituted the Trade Negotiating Committee (TNC) to carry forward the negotiations in accordance with the Framework Agreement. So far 20 Rounds of negotiations have been held.
This information was given by the Minister of State(Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in a written reply in Lok Sabha today.
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