BIMSTEC
BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) is a regional organization comprising Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand. It was established on June 6, 1997, with the signing of the Bangkok Declaration. Initially known as BIST-EC (Bangladesh-India-Sri Lanka-Thailand Economic Cooperation), the organization was renamed BIMST-EC after the inclusion of Myanmar later in 1997. With the admission of Nepal and Bhutan in 2004, the name was changed to BIMSTEC.
The primary objective of BIMSTEC is to create an enabling environment for rapid economic development, accelerate social progress, and promote collaboration on matters of common interest in the Bay of Bengal region. This is achieved through identifying and implementing projects across various sectors.
BIMSTEC's identified areas of cooperation have evolved over time. Currently, they include:
- Trade and Investment
- Transport and Communication
- Energy
- Tourism
- Agriculture
- Counter-Terrorism and Transnational Crime
- Environment and Disaster Management
- Public Health
- People-to-People Contact
- Poverty Alleviation
- Culture
- Climate Change
- Fisheries
- Livestock
The BIMSTEC Secretariat is located in Dhaka, Bangladesh. The organization holds summits periodically, bringing together the heads of state or government of the member countries to discuss progress and set future directions. The chairmanship of BIMSTEC rotates alphabetically among the member states.
BIMSTEC aims to bridge South and Southeast Asia, fostering connectivity and cooperation in a region with significant economic and strategic importance. It seeks to leverage the region's resources and potential to address shared challenges and promote sustainable development.