The first BIMSTEC Business Summit is starting in New Delhi tomorrow with joint efforts of the Ministry of External Affairs and the Confederation of Indian Industries.
Aim Of The Business Summit
The Business Summit (August 6 to 8) aims to foster greater regional collaboration among the member countries of BIMSTEC.
The MEA said that robust trade and investment relations will stimulate greater regional collaboration among the member countries of BIMSTEC.
Jaishankar To Inaugurate The Summit
External Affairs Minister Dr. S. Jaishankar will inaugurate the Business Summit.
Minister of Commerce and Industries, Piyush Goyal and other leaders will deliver key note addresses at the BISMTEC Summit.
Participants At The Summit
Several Ministers of the BIMSTEC Member States from the ambit of Trade, Commerce and Industry, as well as Energy, will participate in the event.
In addition, government officials, policy makers, entrepreneurs and industry associations will take part in the summit.
Economic Collaboration
The event will bring together more than 300 key stakeholders from across the Bay of Bengal region to facilitate economic collaboration.
The Business Summit will also explore ways ahead in focus areas such as trade facilitation, regional connectivity, energy security, inclusive growth and sustainable development.
India Attaches Great Importance To BIMSTEC
India attaches great importance to BIMSTEC which links five countries from South Asia (Bangladesh, Bhutan, Nepal, India and Sri Lanka) and two from South-East Asia (Myanmar & Thailand).
When Was BIMSTEC Established?
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional organization that was established on June 6, 1997 with the signing of the Bangkok Declaration.
Areas of Cooperation
It pursues regional cooperation in seven broad sectors.
These are Agriculture and Food Security, Connectivity, Environment and Climate Change, People to People Contact, Science, Technology and Innovation.
Apart from these, it collaborates in areas such as Security, Trade, Investment and Development.
Sub-Sectors
The cooperation covers eight sub-sectors including Blue Economy, Mountain Economy, Energy, Disaster Management, Fisheries and Livestock, Poverty Alleviation, Health and Human Resource Development.
Foreign Ministers from BIMSTEC Member Countries Met PM Modi In July
Last month, Foreign Ministers from BIMSTEC member countries met Prime Minister Narendra Modi in New Delhi.
They discussed ways to strengthen regional cooperation.
These ministers were in New Delhi for a two-day retreat meeting (July 11-12) to bolster cooperation among Bay of Bengal countries.
PM Modi’s Message On The Silver Jubilee Anniversary Of BIMSTEC
Prime Minister Narendra Modi gave a message on the silver jubilee anniversary of BIMSTEC in June, 2022.
Modi said that BIMSTEC has done appreciable work to bring peace and development to people of the region.
He expressed the hope that BIMSTEC will succeed in bringing positive and meaningful changes in the lives of the people in the region.
