KATHMANDU, APRIL 20

Nepal has emphasised that collective commitment is necessary for energy security.

During a third meeting of energy ministers from the Bay of Bengal Initiative for Multi-sectoral, Technical, and Economic Cooperation (BIM- STEC) here today, Minister of Energy, Water Resources, and Irrigation Pampha Bhusal highlighted the need of mutual trust, clarity in future endeavours, and sincerity in the bid to address serious issues in the energy sector, bearing in mind the future of 1.7 billion people of BIMSTEC member nations.

The meeting was assisted by video conferencing technology.

Expressing her hope that the meeting would contribute to enhancing mutual energy cooperation among BIMS- TEC nations, Minister Bhusal stressed the need to expedite adequate fiscal mobilisation and technology handover so as to advance in the path of energy security. She also took time to state that boosting inter-relations among BIMS- TEC member states on all fronts would help promote the spirit and sentiments of regional cooperation.

Talking about the Memorandum of Understanding for establishment of the 'BIMS- TEC Grid Interconnection' signed at the fourth BIMSTEC Summit held in Kathmandu, Minister Bhusal said, 'Energy trade is a significant issue and it is capable of addressing the problem of electricity waste and mitigating the risk of energy crisis in the region.'

'Energy is always the area of priority of the BIMSTEC,' the minister said, adding that relentless efforts were being made for promotion of energy cooperation in the sector.

The minister further stressed the need to enhance mutual cooperation, coordination and facilitation in the energy sector by encouraging the culture of experience sharing, increasing capacity enhancement and promoting best practices.

Also addressing the meeting, Ministry Secretary Devendra Karki was of the view that COVID-19 crisis should be taken as an opportunity for take-off to realise a green, safe and more sustainable Bay of Bengal. 'There is an opportunity in every crisis. For this, a consolidated and renewable regional partnership in energy will be of great importance,' he asserted.

A version of this article appears in the print on April 21, 2022, of The Himalayan Times