BIMSTEC 2018 || All you need to know about

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4th BIMSTEC summit

  • the 4th edition of BIMSTEC summit held on  August 30- 31st 2018 in Kathmandu, Nepal
  • Agenda of the summit was to increase connectivity between BIMSTEC nations through roads, airways and transmission lines. 
  • 18 points Kathmandu declaration was adopted unanimously, for peaceful and prosperous Bay of Bengal region 
  • terrorism in any form was identified as a great threat and the nations pledged to combat terrorism
  • BIMSTEC grid interconnection for enhancing the energy transfer b/w member states
  • Mutual respect for soverign equaliity , territorial integrity, politcal independence among the member nations
  • Enhanced the level of economic and social development, expressed their faith in United Nations charter

PM modi Keynote

  1. promoting to increase connectivity among member states
  2. Humanitarian assistance called for countries in natural disater
  3. Scholarships to students of BIMSTEC members state to study in Nalanda  university
  4. invited all BIMMSTEC members as a chief guest for the Buddhist conclave 
  5. held several bilateral meetings with member nation delegates

What is BIMSTEC?
  • Bay of Bengal Initiatives for Multi-Sectoral, Technical and Economic Cooperation (BIMSTEC) 
  • It is a regional co-operation organization comprising of 7 nations in south asia lying adjacent to the bay of Bengal
  • It was established on June 6 1977 through Bangkok declaration with 4 initial members 
  • HQ- Dhaka, Bangladesh
  • Objectives - Technological and economic cooperation among members.
                        trade, technology, energy, transport, tourism and fisheries, agriculture, public                              health, poverty alleviation, counter-terrorism, environment, culture, people to                              people contact and climate change
  • Members - India, Nepal, Bangladesh, Bhutan, Sri Lanka from South Asia and Myanmar,                               Thailand from South East Asia.
  • Total of 1.5 billion amounts to  22% of the global population.
  • Total of 2.7 trillion dollars combined GDP
  • All the member countries have an annual GDP of 3.4 -7%, 
  •  promotes Act east policy

History

  • initially BIST EC - Bangladesh, India, Sri Lanka, Thailand  economic co-operation
  • 22 dec 1997 -Myanmar became a member BIST EC was renamed to BIMST-EC
  • Feb 2004 - Nepal and Bhutan became members BIMST-EC was renamed to BIMSTE
  • BIMSTEC SUMMIT
  1. 31 July 2004 - Bangkok  
  2. 13 nov 2008 -New Delhi
  3. 4 March 2014-  myanmar
  4. 30 August  2018 -  Kathmandu
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thRadical: BIMSTEC 2018 || All you need to know about
BIMSTEC 2018 || All you need to know about
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