Member states of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), will sign an agreement to establish electricity grid interconnection, at a summit next week in Kathmandu, a senior official at the Nepali Foreign Ministry said.
Krishna Prasad Dhakal, head of the BIMSTEC division at the Nepali Foreign Ministry, said that, Memorandum of Understanding for Establishment of the BIMSTEC Grid Interconnection will be signed, during the fourth summit, to be held on Aug 30-31, in the Nepali capital.
"The BIMSTEC member states have already finalised the MoU, and now it is ready for the signature. The accord will provide a broad framework for the BIMSTEC member states, to cooperate towards the implementation of grid interconnections for the trade in electricity, with a view to promoting rational and optimal power transmission in the BIMSTEC region," Dhakal said.
Nepal is the rotating chair of BIMSTEC, established in 1997, through the Bangkok Declaration. BIMSTEC, a regional organisation, groups India, Bangladesh, Bhutan, Myanmar, Nepal, Sri Lanka and Thailand.
Dhakal said, the MoU will pave the way for facilitating the promotion of efficient, economic, and secure operation of power system, through the development of regional electricity networks. "It will facilitate the power exchange through cross-border interconnections," he said.
During the fourth summit, BIMSTEC leaders will review progress achieved, so far, in cooperation, and provide guidance for future work of the organisation, according to the Nepali Foreign Ministry. The third summit of the BIMSTEC leaders was held in Nay Pyi Taw, Myanmar, in Mar, 2014.
Source: NAM NEWS NETWORK
