- April 2, 2021
- Posted by: OptimizeIAS Team
- Category: DPN Topics
Subject: International Organisations
Context: India Committed to Cooperation under BIMSTEC Framework: S Jaishankar
- The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional multilateral organization.
- Its members lie in the littoral and adjacent areas of the Bay of Bengal constituting a contiguous regional unity.
- Out of the 7 members,
- Five are from South Asia – Bangladesh, Bhutan, India, Nepal,and Sri Lanka.
- Two are from Southeast Asia – Myanmar, Thailand.
- BIMSTEC not only connects South and Southeast Asia, but also the ecologies of the Great Himalayas and the Bay of Bengal.
- It mainly aims to create an enabling environment for rapid economic development; accelerate social progress; and promote collaboration on matters of common interest in the region.
Genesis of BIMSTEC
- This sub-regional organization came into being in 1997 through the Bangkok Declaration.
- Initially, it was formed with four Member States with the acronym ‘BIST-EC’ (Bangladesh, India, Sri-Lanka and Thailand Economic Cooperation).
- It became renamed ‘BIMST-EC’ in 1997, following the inclusion of Myanmar.
- With the admission of Nepal and Bhutan in 2004, the name of the grouping was changed to ‘Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation’ (BIMSTEC).