BIMSTEC (Syllabus: GS Paper 2 – IR)

News-CRUX-10     13th July 2024        
QEP Pocket Notes

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.



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