BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) is a regional intergovernmental organization that was established in 1997. It comprises seven member states from the Bay of Bengal region: Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand.
The primary objective of BIMSTEC is to promote regional cooperation in various sectors, including trade, investment, technology, energy, and tourism, among others. The organization aims to enhance economic growth and development in the region by promoting cross-border trade and investment, improving connectivity and infrastructure, and fostering cooperation in various areas of mutual interest.
BIMSTEC also seeks to address common challenges faced by its member states, such as poverty, natural disasters, and terrorism. The organization provides a platform for member states to share knowledge and expertise, exchange best practices, and collaborate on joint initiatives to address these challenges.
Over the years, BIMSTEC has launched several initiatives and agreements aimed at strengthening regional cooperation, such as the BIMSTEC Free Trade Area, the BIMSTEC Energy Cooperation Agreement, and the BIMSTEC Convention on Cooperation in Combating International Terrorism, Transnational Organized Crime, and Illicit Drug Trafficking.
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