Prime Minister Narendra Modi virtually attends 5th BIMSTEC Summit Chaired by Sri Lanka
- Prime Minister Shri Narendra Modi participated in the 5th Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Summit on March 30, 2022 through virtual mode.
- The Summit was hosted by the Government of Sri Lanka, which was the chair nation of BIMSTEC.
- The theme of the Summit was “Towards a Resilient Region, Prosperous Economies, Healthy People”
- At the conclusion of the Summit, Thailand took over as chair nation of BIMSTEC.
- 2022 marks the 25th year of the establishment of BIMSTEC.
Key outcomes of the Summit
- During the Summit, leaders witnessed the signing of three BIMSTEC agreements
- 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
- Adoption and signing of the BIMSTEC Charter, which would lead to putting in place s set of rules, a framework and long-term goals. This will help to streamline the operations of BIMSTEC and allow the organisation to enhance its potential.
- Adoption of the ‘Master Plan for Transport Connectivity’ which lays out a guidance framework for connectivity related activities in the region in the future.
- Prime Minister of India, Shri Narendra Modi announced that India will provide USD 1 million to the BIMSTEC secretariat to increase its operational budget.
Points to Remember about BIMSTEC
- It is an international organisation of seven South Asian and Southeast Asian nations. These are: Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand. The Leadership is rotated in alphabetical order of country names.
- The permanent secretariat of BIMSTEC is in Dhaka, Bangladesh.