BIMSTEC - Bay of Bengal Initiative for Multi-Sector Technical and Economic Co-operation
BIMSTEC is a unique link between ASEAN (Association of South East Asian Countries) and SAARC (South Asian Association for Regional Co-operation). It is because it has linked South Asia and East Asia. Leadership is rotated in alphabetical order of country names. The permanent secretariat is in Dhaka, Bangladesh.
Member Countries of BIMSTEC
- Bangladesh
- India
- Sri Lanka
- Myanmar (Burma)
- Thailand
- Nepal
- Bhutan
Objectives of BIMSTEC
The major objectives of BIMSTEC are as follows:- To create or enabling environment for rapid economic development
- To accelarate social progress
- To promote active collaboration and mutual assistance of matters of common interest
- Provide assistance to each other in the form of training and research facilities, co-operate more effectively in joint efforts that are supportive of the complementary to national development plans to maintain close and beneficial co-operation with existing international and regional organization.
- To co-operate in the projects that can be deal with must productively as a sub regional basis and which make best use of available energy
Functions of BIMSTEC
- To implement the agreements made by member countries
- Work as a forum for the co-operation of the member countries in the specific areas
- To provide assistance to one another between member countries
- To increase the co-operation with international and national organization with similar goals and objectives
Role of BIMSTEC
- Expansion of Trade
- Increase in Investment
- Development of Infrastructure
- Promotion of Tourism
- High Economic Growth
BIMSTEC Summits
S No. | Date | Host country | Host city |
---|---|---|---|
1st | 31 July 2004 | Thailand | Bangkok |
2nd | 13 November 2008 | India | New Delhi |
3rd | 4 March 2014 | Myanmar | Nay Pyi Daw |
4th | 30, 31 Aug 2018 | Nepal | Kathmandu |