About Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC):
- It is a regional organization that was established in 1997 with the signing of the Bangkok Declaration.
- Initially known as BIST-EC (Bangladesh-India-Sri Lanka-Thailand Economic Cooperation).
- It became renamed ‘BIMST-EC’ in 1997, following the inclusion of Myanmar.
- It became a seven Member organization with the admission of Bhutan and Nepal in 2004.
- The BIMSTEC Charter was signed and adopted during the ‘Fifth BIMSTEC Summit’ held in the virtual format in Colombo, Sri Lanka, in 2022.
- It is headquartered in Dhaka, Bangladesh.
- H. E. Mr. Tenzin Lekphell assumed office as the Secretary-General of BIMSTEC in 2020 as the third BIMSTEC Secretary-General.
- Chairmanship-the Chairmanship of BIMSTEC rotates according to the alphabetical order of the English names of the Member States.
- India hosted the first meeting of Governing Board of BIMSTEC Energy Centre in Bengaluru in 2023.
- Cooperation within the BIMSTEC will be based on respect for the principle of sovereign equality, territorial integrity, political independence, non-interference in internal affairs, non-aggression, peaceful co-existence, mutual respect, and mutual benefit.
- Cooperation within the BIMSTEC will be complementary to and not be a substitute for bilateral, sub-regional, regional, or multilateral cooperation involving the Member States.
Source: DOWN TO EARTH
Previous Year Questions
Q.1) Consider the following pairs: (2020)
International agreement/ set-up Subject
- Alma-Ata Declaration – Healthcare of the people
- Hague Convention – Biological and Chemical Weapons
- Talanoa Dialogue – Global Climate Change
- Under2 Coalition – Child Rights
Which of the pairs given above is/are correctly matched?
- 1 and 2 only
- 4 only
- 1 and 3 only
- 2,3 and 4 only
Q.2) Consider the following statements (2020)
- The value of Indo-Sri Lanka Trade has consistently increased in the last decade.
- Textile and textile articles constitute an important item of trade between India and Bangladesh
- In the last five years, Nepal has been the largest trading partner of India in South Asia
Which of the statements given above is/are correct?
- 1 and 2 only
- 2 only
- 3 only
- 1 ,2, and 3
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