BIMSTEC, an acronym for Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation, is an intergovernmental organization comprising seven member states located in the Bay of Bengal region in South Asia and Southeast Asia. The member countries include Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand. BIMSTEC was established on 6 June 1997 and aims to promote cooperation on various sectors, such as trade, investment, technology, energy, transport, tourism, fisheries, agriculture, culture, and people-to-people connectivity.
The organization seeks to enhance regional integration and foster closer cooperation among its member states, primarily by facilitating greater trade and economic interactions. Its objective is to create a platform for meaningful dialogue, encouraging mutual understanding and coordination among the nations of the Bay of Bengal region.
BIMSTEC functions through periodic meetings of its member state's heads, a permanent secretariat, and various sectoral meetings and expert groups related to its thematic areas. It works towards the collective growth and development of its member states through collaboration and cooperation in sectors of shared interest, while respecting their respective sovereignties, principles of non-interference, and principles of equality and mutual benefit.
BIMSTEC acts as a vital forum for strengthening regional connectivity, promoting economic growth, and addressing common challenges faced by its member states. It facilitates collaborative efforts towards poverty alleviation, disaster management, climate change, and enhancing regional security. The organization serves as a platform for building trust, fostering regional integration, and creating opportunities for economic cooperation among the Bay of Bengal region's diverse nations.
