BIMSTEC (Syllabus: GS Paper 2 – IR)
Context: Recently, India hosted the 2nd Bay of Bengal Initiative for Multi-sectoral Technical and Economic Cooperation (BIMSTEC) foreign ministers' meeting in Delhi.
BIMSTEC
- About: It is a regional organization signing the Bangkok Declaration.
- Establishment: 1997
- Full form: The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation
- Aim: To promote regional unity and cooperation. Member States include Bangladesh, Bhutan, India, Nepal, Sri Lanka, Myanmar, and Thailand.
o The Permanent Secretariat is located in Dhaka, Bangladesh.
- Chairmanship of BIMSTEC: Rotates according to the alphabetical order of the English names of the Member States.
- Initially known as: BIST-EC (Bangladesh-India-Sri Lanka-Thailand Economic Cooperation)
- Members: 7 Countries
o India, Sri Lanka, Bangladesh, Nepal, Bhutan, Myanmar and Thailand.
- Principles of BIMSTEC: Sovereign equality, territorial integrity, political independence, non-interference in internal affairs, non-aggression, peaceful co-existence, mutual respect and mutual benefit.
- The Purposes of BIMSTEC:
o Accelerate economic growth and social progress in the Bay of Bengal region through joint endeavors in equality and partnership.
o Promote collaboration in economic, social, technical, and scientific fields, providing mutual assistance in training and research.
o Cooperate in regional projects to raise living standards, generate employment, and improve transportation and communication infrastructure.
o Maintain peace, combat terrorism and organized crime, address natural disasters and climate change, and eradicate poverty in the region through collaboration with international organizations.
