BIMSTEC formation

• BIMSTEC is celebrating 20th anniversary of its formation.
• BIMSTEC is a natural platform for regional cooperation. The commitment to peace & development connects the BIMSTEC family.
• This sub-regional organisation was started on June 6, in the year 1997 through a Bangkok Declaration.
• BIMSTEC consists of seven countries: 5 come from South Asia, including India, Nepal, Bangladesh, Bhutan, and Sri Lanka; and 2 come from Southeast Asia, which includes Myanmar and Thailand. BIMSTEC headquarters are situated in Dhaka, Bangladesh and was opened by Bangladeshi Prime Minister Sheikh Hasina on September 13, 2014.

What are the objectives of BIMSTEC?

• Economic Development: To create an enabling environment for rapid economic development through identification and implementation of specific cooperation projects in the sectors of trade, investment and industry, technology, human resource development, tourism, agriculture, energy, and infrastructure and transportation.
• Growth: To accelerate the economic growth and social progress in the sub-region through joint endeavours in a spirit of equality and partnership.
• Collaboration: To promote active collaboration and mutual assistance on matters of common interest in the economic, social, technical and scientific fields.
• Assistance: To provide assistance to each other in the form of training and research facilities in the educational, professional and technical spheres.
• Co-operation: To cooperate in projects that can be dealt with most productively on a sub-regional basis and make the best use of available synergies among BIMSTEC member countries.

Who is the Chairman of the group?

• BIMSTEC uses the alphabetical order for the Chairmanship. The Chairmanship of BIMSTEC has been taken in rotation commencing with Bangladesh (1997–1999), India (2000) Myanmar (2001–2002), Sri Lanka (2002–2003), Thailand (2003–2005), Bangladesh (2005–2006). Bhutan then had to skip due to some political problem. So India took over (2006–2009). In November 2009, Myanmar assumed BIMSTEC Chairmanship after which Nepal formally took over the new Chairmanship on 4 March 2014.

By: Vishal