18th BIMSTEC Ministerial Meeting was held at Colombo on 29th March 2022. In the ministerial meeting India, emphasized our commitment to intensify and expand areas of cooperation, especially connectivity, energy and maritime cooperation.
Prime Minister Narendra Modi emphazised the importance of regional coorperation in the 5thsummit of the BIMSTEC grouping on 30th March 2022. The summit was held virtually. India will provide financial assistance of one million dollars to increase the operational budget of the Secretariat. BIMSTEC has adopted master plan for connectivity. Electricity grid connectivity to be boosted with more discussions among the member states. BIMSTEC center for weather and climate plays a very important role is reducing the impact of disaster. India will contribute $3 million to restart the work of BIMSTEC center for weather and climate. Exchanges between entrepreneurs and start up organisation should be encouraged between the member states.
Was happy to participate in the 5th BIMSTEC Summit hosted by Sri Lanka. We took several important decisions to further the BIMSTEC cooperation agenda. I commend the able leadership of Pres RajapaksaPrime Minister of India Shri Narendra Modi
and extend my best wishes to the incoming chair prayutfficia
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional organization that was established on 06 June 1997 with the signing of the Bangkok Declaration.
BIST-EC (Bangladesh-India-Sri Lanka-Thailand Economic Cooperation) was initally formed on 6th June 1997. Myanmar joined BIMSTEC on 22 December 1997. Later in February 2004, Bhutan and Nepal were also admitted to the grouping.The grouping was renamed during the First Summit in Bangkok on 31 July 2004 as the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC).
The cooperation was reorganized in 2021 under the following sectors and sub-sectors led by the respective Member States as given
Bangladesh: Trade, Investment and Development
Bhutan: Environment & Climate Change
India: Security Sub-sectors: Counter-Terrorism and Trasnational Crime, Disaster Management, Energy
Myanmar: Agriculture and Food Security Sub-sectors: Agriculture, Fisheries & Livestock
Nepal: People-to-People Contact Sub-sectors: Culture, Tourism, People-to-People Contact
(forums of think tanks, media etc.)
Sri Lanka: Science, Technology & Innovation (Sri Lanka) Sub-sectors: Technology, Health, Human Resource Development