BIMSTEC Summit 2022: PM Modi pledges USD 1 million to BIMSTEC, BIMSTEC Charter adopted; Know BIMSTEC Member Countries, Purpose & Key Agenda

BIMSTEC Summit 2022: BIMSTEC countries will adopt a BIMSTEC Charter to develop institution architecture for the group. Know BIMSTEC Member Countries, BIMSTEC Purpose and Key Agenda. 

Created On: Mar 30, 2022 11:20 ISTModified On: Mar 30, 2022 13:57 IST
BIMSTEC Summit 2022
BIMSTEC Summit 2022

BIMSTEC 2022: India will provide the BIMSTEC secretariat USD 1 million to increase its operational budget, announced PM Narendra Modi at 5th BIMSTEC Summit on March 30, 2022. He urged that it is important to strengthen the capacity of BIMSTEC secretariat and suggested the Secretary-General create a roadmap for the same.

PM Modi said that the time has come to make the Bay of Bengal the bridge of connectivity, prosperity and security. He called on BIMSTEC nations to dedicate themselves to working with new enthusiasm to achieve the goals they achieved together in 1997.

The BIMSTEC Summit 2022 is being hosted in a hybrid mode by Sri Lanka, the current chair of BIMSTEC. Sri Lankan President is chairing the 5th BIMSTEC Summit with the virtual participation of leaders of Bangladesh, Bhutan, India, Nepal and Thailand. Myanmar Foreign Minister is representing the nation at the summit. 

The BIMSTEC Senior Officials (SOM) meeting had taken place on March 28, followed by meetings of the BIMSTEC Foreign Ministers on March 29 to prepare for the summit. 

BIMSTEC Summit 2022 Theme

The BIMSTEC Summit 2022 theme was “Towards a Resilient Region, Prosperous Economies, Healthy People”.  The theme captures the main current priorities of member states.

The main topic of deliberations during the BIMSTEC Summit 2022 included:

-COVID-19 pandemic related challenges.

-Uncertainties within the international system.

- Progress of BIMSTEC as a regional group.

-Establishment of basic institutional structures and mechanisms of the group.

BIMSTEC Summit 2022: Key Outcome

The  main outcome of the BIMSTEC Summit 2022 was the adoption and signing of the BIMSTEC Charter,  which formalizes the grouping into an organization with an emblem, flag and formally listed principles to be adhered to.

Prime Minister Narendra Modi along with other BIMSTEC leaders also witnessed the signing of 3 BIMSTEC agreements that represent progress being achieved in ongoing cooperation activities.

BIMSTEC Agreements: 

1. BIMSTEC Convention on Mutual Legal Assistance in Criminal Matters
 
2.BIMSTEC MoU on Mutual Cooperation in diplomatic training
 
3. Memorandum of Assn on Establishment of BIMSTEC Technology Transfer Facility
 
The Summit also saw considerable progress in BIMSTEC connectivity agenda with adoption of the ‘Master Plan for Transport Connectivity’, which lays out a guidance framework for connectivity related activities in the region in the future.

BIMSTEC scholarship program, Legal Treaty

Indian PM Narendra Modi highlighted, "We are working on extending and expanding the scope of the BIMSTEC scholarship program offered by the Nalanda International University. We are also signing a treaty on mutual legal assistance on criminal matters."

BIMSTEC Charter

PM Modi added saying that the recent developments in Europe have raised questions about the stability of the international order. "In this context, it has become a greater priority to have regional cooperation. Today we are adopting BIMSTEC charter to develop institution architecture for our group," he said.

 
Bhutan PM thanks PM Modi for COVID-19 vaccines

Bhutan PM Dr. Lotay Tshering thanked PM Modi at the 5th BIMSTEC Summit saying, "I could like to thank PM Modi for sharing COVID19 vaccines with us, it provided the much needed protection from COVID19. More than 90% of our citizens are vaccinated, protection of everyone is still our priority."

BIMSTEC: FAQs

What is BIMSTEC?

The 'Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC)' is a regional multilateral organisation. 

Who are members of BIMSTEC?

BIMSTEC members are seven countries that lie in the littoral and adjacent areas of the Bay of Bengal. The BIMSTEC member nations include Bangladesh, Bhutan, India, Nepal, Sri Lanka, Myanmar and Thailand.

When was first BIMSTEC summit held?

The first BIMSTEC Summit was held on July 31, 2004. The grouping then got its name BIMSTEC or the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation.

Where is the headquarters of BIMSTEC?

The BIMSTEC headquarters are in Dhaka, Bangladesh. 

Who is the founder of BIMSTEC?

BIMSTEC was initially formed with four member states- Bangladesh, India, Sri Lanka and Thailand on June 6, 1997. BIMSTEC was then called BIST-EC (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation). It was renamed BIMST-EC in December 1997, following the inclusion of Myanmar.

When did Nepal join BIMSTEC?

Nepal became an observer state in 1998 and became full-time member of the bloc along with Bhutan in February 2004. 

What is the main purpose of BIMSTEC?

BIMSTEC main purpose is to accelerate economic growth and social progress and collaboration in the sub-region through joint initiatives.

The 15 priority areas of cooperation for BIMSTEC include trade and investment, energy, tourism, transport and communication, public health, counter-terrorism and transnational crime, environment and disaster management, technology, fisheries, agriculture, poverty alleviation, cultural cooperation, people-to-people Contact and Climate Change and Blue Economy.

Take Weekly Tests on app for exam prep and compete with others. Download Current Affairs and GK app

एग्जाम की तैयारी के लिए ऐप पर वीकली टेस्ट लें और दूसरों के साथ प्रतिस्पर्धा करें। डाउनलोड करें करेंट अफेयर्स ऐप

AndroidIOS
Read the latest Current Affairs updates and download the Monthly Current Affairs PDF for UPSC, SSC, Banking and all Govt & State level Competitive exams here.
Comment (0)

Post Comment

9 + 4 =
Post
Disclaimer: Comments will be moderated by Jagranjosh editorial team. Comments that are abusive, personal, incendiary or irrelevant will not be published. Please use a genuine email ID and provide your name, to avoid rejection.

    Monthly Current Affairs PDF

    • Current Affairs PDF April 2022
    • Current Affairs PDF March 2022
    • Current Affairs PDF February 2022
    • Current Affairs PDF January 2022
    • Current Affairs PDF December 2021
    • Current Affairs PDF November 2021
    View all

    Monthly Current Affairs Quiz PDF

    • Current Affairs Quiz PDF April 2022
    • Current Affairs Quiz PDF March 2022
    • Current Affairs Quiz PDF February 2022
    • Current Affairs Quiz PDF January 2022
    • Current Affairs Quiz PDF December 2021
    • Current Affairs Quiz PDF November 2021
    View all