12. The Meeting recognized the immense potential of BIMSTEC for creating greater
economic integration between South Asia and Southeast Asia. Both sides realized that
BIMSTEC FTA would be an effective instrument for stimulating trade and investment among
the Member States. In this regard, both countries reaffirmed their commitment to accelerate the
finalization of the Agreement on Trade in Goods under Framework Agreement on BIMSTEC
FTA by encouraging BIMSTEC Member States to exchange schedules of commitments, which
are the integral part of the Agreement on Trade in Goods at the earliest possible date. Both
countries agreed to take initiative to encourage all BIMSTEC Members to continue the
negotiations on Trade in Services and Investment under Framework Agreement on BIMSTEC
FTA in order to achieve meaningful conclusion of BIMSTEC FTA.