Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation

Bay Of Bengal Initiative For Multi-Sectoral Technical And Economic Cooperation

Geopolitical Organization
Geopolitical Organization Less

Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation

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Description:
Bay of Bengal Initiative for MultiSectoral Technical and Economic Cooperation (BIMSTEC) is an international organisation involving a group of countries in South Asia and South East Asia. The member countries of this group are: Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal.

Background

On 6 June 1997, a new sub-regional grouping was formed in Bangkok and given the name BIST-EC (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation). Myanmar attended the inaugural June Meeting as an observer and joined the organization as a full member at a Special Ministerial Meeting held in Bangkok on 22 December 1997, upon which the name of the grouping was changed to BIMST-EC. Nepal was granted observer status by the second Ministerial Meeting in Dhaka in December 1998. Subsequently, full membership has been granted to Nepal and Bhutan in 2004.In the first Summit on 31 July 2004, leaders of the group agreed that the name of the grouping should be known as BIMSTEC or the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation.

Membership Criteria

Eligibility: Countries seeking membership should satisfy the conditions of territorial contiguity to, or direct opening into, or primary dependence on the Bay of Bengal for trade and transportation purposes.

Procedure: All applications should be submitted in writing to the Chairman of BIMSTEC. The decision on admitting new members will be taken on the basis of consensus by all the BIMSTEC...
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