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Member nations of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation have resumed negotiations for a comprehensive Free Trade Agreement in Bangkok. India advocated for prioritizing regional value chains in pharmaceuticals, textiles, and automotive components. With SAARC remaining largely dysfunctional, India is leveraging BIMSTEC to accelerate its Neighborhood First and Act East policies. However, differences regarding tariff elimination timelines for agricultural products continue to delay consensus.
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