Bimstec summit 2018

International

BIMSTEC SUMMIT 2018

By Sandeep Nagyaan · 03 Sep 2018


BIMSTEC SUMMIT 2018

Prime Minister Narendra Modi was Attend 4 th BIMSTEC (Bay of Bengal for Multi-Sectoral Technical & Economic Cooperation) in Kathandu Nepal on August 30-31, 2018. The two day summit will witness participation from all Members states to hold discussions on trade, security & development of the region.

Historical Background:

BIMSTEC is an international organization of seven nation of South Asia & South East Asia. It was formed in June 6, 1997 at Bangkok. On 22 December 1997, Myanmar became a full member, resulting in the renaming of the grouping to BIMST-EC. In 1998, Nepal became an observer. In February 2004, Nepal and Bhutan became full members.

AIM of BIMSTEC:

Basically there are 14 priority areas between members Nations: 1. Transport & Communication 2. Counterterrorism & transnational crime 3. Environment & disaster management 4. Tourism 5. Energy 6. Public health 7. Agriculture 8. Trade & investment 9. Technology 10. Fisheries 11. Poverty Alleviation 12. People-to- People connect 13. Climate change 14. Cultural Cooperation.

Main object of 4 th BIMSTEC Summit 2018 :

• The Declaration stresses on ending poverty from the region by 2030 in line with the United Nations Sustainable Development Goals.   • The declaration includes issues such as agricultural technology exchange, fight against terrorism, gradual reduction of the impact of climate change, increase trade and investment, and ease the visa processing for the people of BIMSTEC member states. • It strongly condemns terrorism in all its forms and manifestations and stressed that there can be no justification whatsoever for any act of terrorism.  • It underlines the importance of multidimensional connectivity as a key enabler to economic integration for shared prosperity of the region.  • It highlights the importance of trade and investment as one of the major contributing factors for fostering economic and social development in the region.

Theme of this BIMSTEC Summit 2018:

 “Towards a Peaceful Prosperous and Sustainable Bay of Bengal Region” The next BIMSTEC Summit Host will be Sri Lankan.