COLOMBO The Cabinet of Ministers approved a proposal made by Foreign Relations Minister Dinesh Gunawardane to accept the BIMSTEC convention at the fifth summit of the BIMSTEC scheduled to be held in Sri Lanka next year.
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is an international organisation of seven nations of South Asia and Southeast Asia which includes Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand.
In 1997, a new sub-regional grouping was formed in Bangkok under the name BIST-EC (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation). Following the inclusion of Myanmar on 22 December 1997 during a special Ministerial Meeting in Bangkok, the Group was renamed ‘BIMST-EC’ (Bangladesh, India, Myanmar, Sri Lanka and Thailand Economic Cooperation). In 1998, Nepal became an observer. In February 2004, Nepal and Bhutan became full members.
On July 31, 2004, in the first Summit the grouping was renamed as BIMSTEC or the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation.
As it was decided at the fourth summit held in Kathmandu in 2018, a convention is being drafted for the formulation of institutional guidelines for the cooperation and the formulation of the said convention has been completed at the 21st session of the senior officers’ meeting of the BIMSTEC.
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is an international organisation of seven nations of South Asia and Southeast Asia which includes Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand.
In 1997, a new sub-regional grouping was formed in Bangkok under the name BIST-EC (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation). Following the inclusion of Myanmar on 22 December 1997 during a special Ministerial Meeting in Bangkok, the Group was renamed ‘BIMST-EC’ (Bangladesh, India, Myanmar, Sri Lanka and Thailand Economic Cooperation). In 1998, Nepal became an observer. In February 2004, Nepal and Bhutan became full members.
On July 31, 2004, in the first Summit the grouping was renamed as BIMSTEC or the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation.
As it was decided at the fourth summit held in Kathmandu in 2018, a convention is being drafted for the formulation of institutional guidelines for the cooperation and the formulation of the said convention has been completed at the 21st session of the senior officers’ meeting of the BIMSTEC.
