Bay of Bengal Initiative for Multi-Sectoral Technical And Economic Cooperation - Everything you need to know about BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical And Economic Cooperation): news, reviews, in-depth analysis, opinion and more

BIMSTEC is a collection of 7 adjacent countries in south and south-east Asia which form an international organization for multi cooperation between them like?cultural, social, economic and technical. The organization was established in June 1997 and initially was named BISTEC but changed to BISMTEC when Nepal, Bangladesh and Bhutan joined in it. BIMSTEC offers an exceptional link between south and southeast countries of Asia bringing 21% of world?s population under the same roof. The BIMSTEC countries envelop 13 sectors of cooperation like trade, investment, technology, agriculture, tourism, fishery, energy, transport, cultural cooperation as well as interaction, environmental and disaster management, poverty alleviation and counter terrorism etc. The BIMSTEC countries have planned a contract for free trade and liberalized commerce between them by 2017. All the member countries are committed to each other?s ubiquitous development. In order to accelerate the cooperation the BIMSTEC countries arrange summits between them of minister and secretary level where important decisions are taken under the chairmanship of a particular nation, which is conferred upon it for a span of two years. BIMSTEC arranges annual summits between the heads of the member countries and concerns for the grant of its issues that center around in fulfilling its goals.