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PM Narendra Modi addresses the 5TH BIMSTEC summit

Tags: Popular Summits International News

Prime Minister Narendra Modi addressed the fifth Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) summit  held on 30 March 2022.

  • The 5th BIMSTEC Summit meeting is being hosted by Sri Lanka in a virtual mode. The seven leaders of Sri Lanka, Bangladesh, Bhutan, Nepal, India, Myanmar, Thailand addressed  the summit in a virtual mode.

  • The theme of the 5th BIMSTEC summit “Towards a Resilient Region, Prosperous Economies, Healthy People”.

  • Prime Minister Modi announced that India will contribute $1 million to the BIMSTEC secretariat with the aim of enhancing its operational budget. 

Prime Minister Modi along with other leaders also witnessed the signing of three BIMSTEC agreements which represent progress being achieved in ongoing cooperation activities:

  1. BIMSTEC Convention on Mutual Legal Assistance in Criminal Matters;

  2. BIMSTEC Memorandum of Understanding on Mutual Cooperation in the field of Diplomatic Training and

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

  • The chairmanship of the BIMSTE is rotated  alphabetically and now Thailand  will take over the chairmanship from Sri Lanka.

Kindly see 29 March 2022 post for BIMSTEC foreign Ministers meeting 

BIMSTEC 

It was set up as Bangladesh, India, Sri Lanka and Thailand Economic Cooperation (BIMSTEC) on 6 June 1997 at Bangkok, Thailand.

  • It was renamed the Bay of Bengal Initiative for Multi Sectoral Technical and Economic Cooperation on 31 July 2004 when the first summit meeting was held in Bangkok, Thailand .

  • The member countries are Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand.

  • The group was formed to promote economic cooperation between the member countries 

Headquarters/Secretariat  : Dhaka, Bangladesh

Summits of BIMSTEC 

First held in  Bangkok, Thailand  in  2004

Second was held in New Delhi  in 2008

Third was held in Naypyidaw, Myanmar, 2014 

Fourth was held in Kathmandu, Nepal 2018 

Fifth was held in Colombo, Sri Lanka virtually  in 2022 

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