5th BIMSTEC Summit

What is the News?

The Prime Minister has participated in the 5th BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) Summit.

What is the 5th BIMSTEC Summit?

Chaired by: Sri Lanka

Theme: “Towards a Resilient Region, Prosperous Economies, Healthy People” 

Main outcomes of the summit

BIMSTEC Charter: The charter formalizes the grouping into an organization made up of member states that are littoral to, and dependent upon, the Bay of Bengal. Under this Charter, the members were expected to meet once in every two years.

Adoption of “Master Plan for Transport Connectivity”: It lays out a guidance framework for connectivity-related activities in the region in the future.

Cooperation Activities: The BIMSTEC cooperation activities will take place in seven pillars, and each of the member countries will lead one pillar. India will lead the security pillar of the BIMSTEC.

Three BIMSTEC Agreements Signed: The BIMSTEC countries signed three agreements, namely:

– BIMSTEC Convention on Mutual Legal Assistance in Criminal Matters; 

– BIMSTEC Memorandum of Understanding on Mutual Cooperation in the field of Diplomatic Training,

– Memorandum of Association on Establishment of BIMSTEC Technology Transfer Facility.

Source: This post is based on an article5th BIMSTEC Summitpublished in PIB on 30th March 2022.

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