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DAILY NEWS ANALYSIS

  • 03 April, 2021

  • 4 Min Read

17th BIMSTEC Summit- Key Talking Points

17th BIMSTEC Summit- Key Talking Points

India’s External Affairs Minister recently attended the 17th ministerial meet of the BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) countries.

About the Ministerial Meet:

  • Sri Lanka Chaired the 17th Ministerial Meeting.
  • Dr. S. Jaishankar reiterated India’s commitment to take BIMSTEC forward.

About BIMSTEC:

  • BIMSTEC is a regional organization consisting of members from South Asia and South-East Asia. It was founded in 1997 through the Bangkok Declaration.
  • The organization aims to harness mutual cooperation in multiple areas by using regional resources and geographical advantage.
  • It comprises seven Member States:
    • Five from South Asia including Bangladesh, Bhutan, India, Nepal, Sri Lanka
    • Two from Southeast Asia including Myanmar and Thailand.
  • BIMSTEC Chairmanship rotates among member countries alphabetically.
  • Nearly 1.5 billion people or 22% of the global population comes under the BIMSTEC. Together, BIMSTEC has a combined gross domestic product (GDP) of $2.7 trillion.
  • Currently, the BIMSTEC is involved in 15 sectors. This includes sectors such as trade, technology, agriculture, tourism, fisheries, energy, and climate change among others for sectoral cooperation.
  • The First Summit Meeting of the Heads of the BIMSTEC Countries was held in Bangkok, Thailand in 2004.
  • Headquarters: Dhaka, Bangladesh.

Source: TH


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