BIMSTEC Summit Current Affairs
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The fourth edition of Bay of Bengal Initiatives for Multi-Sectoral, Technical and Economic Cooperation (BIMSTEC) will be held in Kathmandu, capital city of from 30 to 31 August, 2018. Nepal is the current chair of BIMSTEC. The main focus of summit will be to increase connectivity between BIMSTEC nations including roads, airways and transmission lines. It will also give top priority connectivity and poverty alleviation.
Bay of Bengal Initiatives for Multi-Sectoral, Technical and Economic Cooperation (BIMSTEC)
BIMSTEC is the sub-regional group of seven countries in South Asia and South East Asia lying in littoral and adjacent areas of Bay of Bengal constituting contiguous regional unity. It was established on 6 June 1997 through Bangkok Declaration. It is headquartered in Dhaka, Bangladesh.
Member countries: India, Nepal, Bangladesh, Bhutan, Sri Lanka from South Asia and Myanmar, Thailand from South East Asia. They are collectively home to around 1.5 billion people which constitute around 22% of global population.
BIMESTC’s prime objectives: Technological and economic cooperation among south Asian and south East Asian countries along the coast of the Bay of Bengal. BIMSTEC is sector-driven cooperative organization, starting with six sector including trade, technology, energy, transport, tourism and fisheries. In 2008, it was expanded to embrace eight more sectors including agriculture, public health, poverty alleviation, counter-terrorism, environment, culture, people to people contact and climate change.
The fourth edition of BIMSTEC Summit-2017 will be held in Nepal. It was announced in the 17th session of BIMSTEC Senior Officials’ Meeting (SOM) held in Kathmandu, capital Nepal.
In this meeting, delegates of seven member countries reviewed the progress made by BIMSTEC and recommended future course of action to strengthen regional cooperation among the group.
The importance of BIMSTEC was highlighted during the BRICS-BIMSTEC Outreach Summit held at Goa in October 2016. In this summit, Indian Prime Minister Narendra Modi had expressed his desire to promote BIMSTEC and assured full cooperation it needs to move on.
About BIMSTEC (Bay of Bengal Initiative on Multi Sectoral Technical and Economic Cooperation)
- The BIMSTEC is the sub-regional group of seven countries in South Asia and South East Asia lying in the littoral and adjacent areas of the Bay of Bengal constituting a contiguous regional unity.
- They are India, Nepal, Bangladesh, Bhutan, Sri Lanka from South Asia and Myanmar, Thailand from South East Asia.
- Established: 6 June 1997 through the Bangkok Declaration.
- Headquarters: Dhaka, Bangladesh.
- Objectives: Technological and economical cooperation among south Asian and south East Asian countries along the coast of the Bay of Bengal.
- It also covers cooperation in commerce, technology, investment, agriculture, tourism, human resource development, fisheries, transport and communication, textiles, leather etc.