Press Release on SASEC (08 Nov 2024)

1. The Ministry of Finance, Royal Government of Bhutan, in collaboration with the Asian Development Bank (ADB) under the South Asia Subregional Economic Cooperation (SASEC) Program hosted the 2024 Annual SASEC Meetings in Thimphu from November 4-8, 2024.

• The Senior Officials Meeting was held on November 8, 2024 chaired by Aum Leki Wangmo, Secretary, Ministry of Finance and co-chaired by ADB Director General, Mr. Takeo Konishi.

• The Senior Officials Meeting was preceded by 12^th Customs Sub-group Meeting held in September 2024 and three SASEC Working Group Meetings for Trade Facilitation, Transport and Energy held from November 4-7, 2024.

• The Senior Officials Meeting reinforced cooperation in trade, transport, and energy to foster economic growth, also addressing new institutional mechanisms on economic corridor development, digital payment mechanisms and Action Plans for SASEC Initiatives (APSI) for 2024-2026.

• The South Asia Subregional Economic Cooperation (SASEC) program brings together Bangladesh, Bhutan, India, Maldives, Myanmar, Nepal, and Sri Lanka in a project-based partnership that aims to promote regional prosperity, improve economic opportunities, and build a better quality of life for the people of the subregion. SASEC countries share a common vision of boosting intra-regional trade and cooperation in South Asia, while also developing connectivity and trade with Southeast Asia.

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