New Delhi: First BIMSTEC Business Summit to bring together more than 300 key stakeholders from across the Bay of Bengal region to facilitate economic collaboration and explore ways ahead in focus areas such as trade facilitation, regional connectivity, energy security, inclusive growth and sustainable development.
The Ministry of External Affairs in association with the Confederation of Indian Industries (CII) will host the 1st BIMSTEC Business Summit in New Delhi on August 6 and will continue till August 8.
The first edition of the Business Summit aims to foster greater regional collaboration through robust trade and investment relations among the member countries of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC).
The Business Summit will be inaugurated by External Affairs Minister Dr S Jaishankar. Minister of Commerce and Industries Piyush Goyal and other leaders will deliver keynote addresses.
Several Ministers of the BIMSTEC Member States from the ambit of Trade, Commerce and Industry, as well as Energy, along with high-ranking government officials, policymakers, entrepreneurs and industry associations, will participate in the event.
According to the Ministry of External Affairs, the event will bring together more than 300 key stakeholders from across the Bay of Bengal region to facilitate economic collaboration and explore ways ahead in focus areas such as trade facilitation, regional connectivity, energy security, inclusive growth and sustainable development.
India attaches great importance to the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), which links five countries from South Asia (Bangladesh, Bhutan, Nepal, India and Sri Lanka) and two from Southeast Asia (Myanmar and Thailand)
The BIMSTEC Business Summit is a platform for business leaders, policymakers and industry experts from BIMSTEC member countries to come together and discuss opportunities for trade and investment, economic cooperation and business partnerships within the region. The summit aims to enhance regional economic integration and promote collaborative projects that can drive economic growth and development.
BIMSTEC, which stands for the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation, is a regional organisation comprising seven member states lying in the littoral and adjacent areas of the Bay of Bengal. These member states are Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand.
BIMSTEC was established on June 6, 1997, to promote economic cooperation and prosperity among its member countries, focusing on sectors such as trade, technology, energy, transport, tourism, fisheries, agriculture, public health, poverty alleviation and counter-terrorism.
The organisation works to create an enabling environment for rapid economic development and accelerate social progress in the region. It also seeks to enhance connectivity and cooperation among member states, both in terms of physical infrastructure and people-to-people exchanges.
Read more: PM Modi, BIMSTEC Foreign Ministers Discuss Ways To Strengthen Regional Cooperation
