3rd BIMSTEC summit 2014 held in Myanmar

Screenshot_4The 3rd BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) Summit held at Nay Pyi Taw, Myanmar.
About BIMSTEC summit 2014

  • Theme: “Partnership for Harmony and Prosperity”.
  • Attended by:Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal.
  • Chaired by:Myanmar.
  • Objective: To create an enabling environment for rapid economic development through identification and implementation of specific cooperation projects and the sectors of trade and investment, technology, energy, transport and communication, tourism, fisheries, agriculture, cultural cooperation, environment and disaster management, public health, people-to-people contact, poverty alleviation, counter-terrorism and transnational crime and climate change.
  • Next Summit will be chaired by Kathmandu, Nepal.( The Bimstec summit takes place every four years). 

Memorandum of Understanding (MoUs) signed by countries on the establishment of the BIMSTEC’s:

  1. Permanent Secretariat
  2. Cultural Industries Commission (BCIC) and BIMSTEC Cultural Industries Observatory (BCIO)
  3. Centre for Weather and Climate

Resolutions taken by BIMSTEC members to

  • Enhance cooperation in environmental protection and sustainable development.
  • Enhance cooperation in the field of agriculture, including crops, livestock and horticulture besides fisheries.
  • Finalize an agreement on trade in goods by 2014 with intent to promote regional commerce
  • Conclude the Agreement on Services and Investments
  • Work on agreements on dispute settlement and cooperation in customs matters under the Free Trade Area framework.
  • Devise a framework for establishment of the BIMSTEC Technology Transfer Facility.
  • Increase cooperation in expanding the skill and technology base of member countries. 

Note: BIMSTEC is an international organization comprising Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal as member countries.