BIMSTEC

BIMSTEC

Part of: Prelims and GS II – International Relations

Context: Sri Lankan President Gotabaya Rajapaksa will host Prime Minister Narendra Modi and other leaders at the BIMSTEC summit being held in “hybrid mode” from March 28 to 30 2022.

• Myanmar Foreign Minister will also address the group virtually.
• One of the main objectives of this week’s summit would be to launch the ‘BIMSTEC charter’, and hand over the leadership of the forum to Thailand, the next chair.

About BIMSTEC

• The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional multilateral organisation.
• 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
  • Sri Lanka
• Two are from Southeast Asia –
  • Myanmar
  • Thailand
• 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.

News Source: TH