Sikkim highlights Chewa Bhanjyang as potential trade route in BIMSTEC Conference

EOI, GANGTOK, 14 JUNE 2023 : Addressing a meeting of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) in Kolkata organized by the Ministry of External Affairs and the Indian Chamber of Commerce on Wednesday, Chief Economic Advisor to the Sikkim Government Mahendra P Lama said the Chewa Bhanjyang corridor had been identified as a potential trade route between India and Nepal. 

If opened, the trade route would provide opportunities for further investment and development in both India and Nepal. 

All the member countries of BIMSTEC, namely Bangladesh, Bhutan, India, Sri Lanka, Myanmar, Nepal and Thailand are participating in the three-day Business Conclave from June 13 to15 through their respective chambers of commerce

.Sikkim is participating as an Associate Partner State of BIMSTEC. The Sikkim delegation led by Mahendra P Lama also includes Secretary Commerce and Industries Karma R Bonpo and Director MSME M Ravikumar.

Entrepreneurs and PSUs from Sikkim are also attending events. Mahendra P. Lama also highlighted the efforts taken by the Centre to witness a paradigm shift on the perception of northeast India and East Asia from a ‘No Go Zone” to the ‘Look East Policy’ and the efforts to harness the potential of natural resources, human resources, trade and investment potential available in the northeast.

He spoke on the Asian Highway, developmental works undertaken by India to improve sea routes and air connectivity. He also emphasized that the different state governments were working to further the ties and trade relations among the BIMSTEC countries. 

The road and railway networks were being developed not only to improve trade relations but also to improve multilateral relations, communication network, internal relations, cultural and spiritual relations, supply chain and value addition among BIMSTEC countries. 

 He said that the key to boosting investments from South East and East Asian Counties to the northeast, including Sikkim, was by addressing Knowledge and information gaps, matchmaking gaps, policy coordination gaps, startup promotion gaps, Incentives gaps and confidence gaps.

He appealed to the BIMSTEC countries, especially to the investors, policy makers and industrialists, to invest among BIMSTEC countries to improve trade and economic cooperation. 

Karma R Bonpo made a detailed presentation on investment opportunities in Sikkim. He highlighted Sikkim as a green investment destination with great scope in clean energy, tourism, organic farming, education and handicraft. The Sikkim Government was implementing various polices to make Sikkim a preferred Investment destination