DHAKA, Dec 19: The signatories to the framework agreement on the Bay of Bengal Multi-Sectoral Technical and Economic Cooperation vowed on Monday to combat trans-national crimes and make the agreement on trade in goods effective from July 1, 2006.

The pledge came at the eighth ministerial meeting of the seven-nation forum, attended by four foreign ministers, one trade and industries minister, and one state minister for foreign affairs from the signatory countries. The prime minister, Khaleda Zia, inaugurated the meeting.

The meeting resolved to add seven more areas of cooperation to the six detailed in the framework agreement, according to a joint statement of the BIMSTEC ministerial. These are trans-national crimes, poverty alleviation, agriculture, cultural cooperation, environment and disaster management, public health and people-to-people contacts.

“Three working groups will be set up to address counter-terrorism and trans-national crimes to lessen the menace of terrorist activities in the region,” Bangladesh’s foreign minister, M Morshed Khan, told newsmen at a news briefing after the meeting. “The groups include information on terrorist financing, information on trafficking and information on drugs.”

As far as a free-trade area within the BIMSTEC region is concerned, he said the FTA would be introduced within the stipulated time. “I am confident that the agreement on trade in goods under the framework agreement will come into effect from July 1, 2006.” The joint statement also hints at the implementation of the agreement as scheduled.

“We underlined the importance of timely implementation of the FTA to increase intra-regional trade and investment, enhance economic efficiency and achieve larger economies of scale and external competitiveness,” reads the joint statement.

“We expressed satisfaction at the progress realized by the BIMSTEC trade negotiating committee in finalizing all issues, including rules of origin, sensitive lists and dispute settlement mechanism, allowing entry into force of the agreement on trade in goods, as scheduled on July 1, 2006.”

Morshed told the briefing that the volume of intra-regional trade would be increased between $40 and $60 billion every year once complete trade liberalization takes place under the FTA. He did not elaborate on the basis of such a projection.

The ministerial meeting decided to observe June 6 as ‘BIMSTEC’ day.

Bangladesh, India, Thailand, Sri Lanka, Myanmar, Bhutan and Nepal are signatories to the agreement.