What is the meaning of BIMSTEC?
Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) comprising Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, Thailand brings together 1.5 billion people – 21\% of the world population, and a combined GDP of over US$ 2.5 trillion.
What are the principles of BIMSTEC?
BIMSTEC’s Principles: Cooperation within BIMSTEC will be based on respect for the principle of sovereign equality, territorial integrity, political independence, no-interference in internal affairs, peaceful co- existence and mutual benefit.
Who created BIMSTEC?
Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation
| Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation BIMSTEC | |
|---|---|
| • Chairmanship | Sri Lanka (since September 2018) |
| • Secretary General | Tenzin Lekphell Bhutan |
| Establishment | 6 June 1997 |
| Website bimstec.org |
What is BIMSTEC day?
The Ministry of Foreign Affairs observed the founding day of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) on Sunday, 6 June 2021 by lighting a thousand butter lamps at the historic Changangkha Lhakhang.
When did Nepal join BIMSTEC?
Nepal became a member of BIMSTEC in 2004.. BIMSTEC acts as a vital bridge for Nepal to connect with South and Southeast Asia to expand its trade, economy, business, investments, and cultural connections.
When did Nepal get membership of BIMSTEC?
8 February 2004
Nepal joined BIMSTEC on 8 February 2004.
How can Nepal benefit from BIMSTEC?
Nepal can also utilise the BIMSTEC development fund to fight poverty. Moreover, BIMSTEC is the ideal platform to provide greater visibility to Nepal in the Indo-Pacific region. In present times, the Bay of Bengal region is one of the world’s least integrated regions in terms of trade, connectivity and cooperation.
What is the main objective of BIMSTEC?
Headquartered in Dhaka, BIMSTEC is an inter-regional grouping that seeks to foster regional and economic cooperation among nations in the littoral and adjacent areas of the Bay of Bengal — India, Thailand, Myanmar, Nepal, Bangladesh, Sri Lanka and Bhutan.
Which country will host BIMSTEC 2021?
Sri Lanka has proposed to hold the BIMSTEC summit in early December this year. This will be the 5th such summit of the grouping.
How many countries are in the BIMSTEC?
It constitutes seven Member States: five deriving from South Asia, including Bangladesh, Bhutan, India, Nepal, Sri Lanka, and two from Southeast Asia, including Myanmar and Thailand.
Why is BIMSTEC so important for India?
BIMSTEC connects India’s northeast with BIMSTEC countries and act as a platform to realize India’s Neighbourhood First Policy and Act East Policy. The cooperation enables economic development in the region, removing its isolated nature and address the issues faced by the region and also provides better connectivity.
What does B mean BIMSTEC?
BIMSTEC stands for Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation.
What does BIMSTEC mean?
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional organization comprising seven Member States lying in the littoral and adjacent areas of the Bay of Bengal constituting a contiguous regional unity. This sub-regional organization came into being on 6 June 1997 through the Bangkok Declaration.
What is the objective of inbimstec?
BIMSTEC was established to develop technological and economic cooperation in the Southeast Asian countries along the coast of the Bay of Bengal. It also establishes relationship among SAARC and SEAN members.
Where is the headquarters of BIMSTEC located?
It is located in Dhaka, Bangladesh. Who are the members of BIMSTEC summit? It constitutes seven member states: five deriving from South Asia, including Bangladesh, Bhutan, India, Nepal, Sri Lanka, and two from Southeast Asia, including Myanmar and Thailand. What is the prime objective of BIMSTEC?
When did Nepal become a member of BIMSTEC?
In February 2004, Nepal and Bhutan become full members. On 31 July 2004, in the first Summit the grouping was renamed as BIMSTEC or the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation.