Minister for Shipping inaugurated the first ever ‘BIMSTEC Ports’ Conclave’ 07/11/2019 – Posted in: Press Information Bureau – Tags: BIMSTEC, Export-Import, trade and coastal shipping
‘BIMSTEC Ports’ Conclave
(Ministry of Shipping)
WHAT
The Minister for Shipping inaugurated the first-ever ‘BIMSTEC Ports’ Conclave at Visakhapatnam in Andhra Pradesh to be held on 7-8 November 2019.
HIGHLIGHTS
- The first-ever Ports’ Conclave of BIMSTEC nations is expected to explore the possibility of increasing economic cooperation by furthering EXIM (Export-Import) trade and coastal shipping.
- The Conclave will also discuss on various investment opportunities, best practices adopted for productivity and safety at Ports.
BIMSTEC
- The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC).
- It is an International Organization involving a group of countries in South Asia and southeast Asia namely, Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal.
- The objective of BIMSTEC alliance was to harness trade and accelerated growth with mutual cooperation in different areas of common interest by utilising the regional resources and geographical advantage.
- Leadership is rotated in alphabetical order of country names. The permanent secretariat is in Dhaka.
Objective:
- There are 14 main sectors of BIMSTEC along technological and economic cooperation among south Asian and southeast Asian countries along the coast of the Bay of Bengal.
- Trade & Investment, Transport & Communication, Energy, Tourism, Technology, Fisheries, Agriculture, Public Health, Poverty Alleviation, Counter-Terrorism & Transnational Crime, Environment & Disaster Management, People-to-People Contact, Cultural Cooperation, Climate Change.
Background
- On 6 June 1997, a new sub-regional grouping was formed in Bangkok under the name BIST-EC (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation).
- Following the inclusion of Myanmar on 22 December 1997 during a special Ministerial Meeting in Bangkok, the Group was renamed ‘BIMST-EC’ (Bangladesh, India, Myanmar, Sri Lanka and Thailand Economic Cooperation).
- In February 2004, Nepal and Bhutan become full members.
- On 31 July 2004, in the first Summit the grouping was renamed as BIMSTEC or the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation.
Source: PIB
READ MORE PIB UPDATES
- CPGRAMS Reforms
- Wastelands Atlas – 2019
- SCOJtEx-2019
- Vigyanika – International Science Literature Festival
- “Sarbat Da Bhala” Express
- “Walkthan” for older persons on International Day of Older Persons
- Station Cleanliness Survey Report 2019
- Vayoshreshtha Samman – 2019
You are on the Best Online IAS preparation platform. You are learning under experts.
We are present on Facebook- Diligent IAS, LinkedIn- Diligent IAS, YouTube- Diligent IAS, Instagram- Diligent IAS. Get in touch with us