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The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional organization comprising seven member states bordering the Bay of Bengal. Established in 1997, BIMSTEC aims to promote economic cooperation, technical assistance, and regional integration among its member countries.
BIMSTEC's member states include Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand, representing a diverse and dynamic region in South Asia and Southeast Asia. The organization brings together countries from both sub-regions, fostering cooperation and connectivity across the Bay of Bengal and beyond.
BIMSTEC's objectives encompass a wide range of sectors, including trade, investment, tourism, transport, energy, technology, environment, and disaster management. The organization seeks to enhance economic growth, social progress, and sustainable development through collaborative initiatives and joint projects among member states.
Key areas of cooperation within BIMSTEC include the establishment of a Free Trade Area, improvement of connectivity through infrastructure development and transport linkages, promotion of tourism and cultural exchanges, facilitation of investment and technology transfer, and coordination on issues such as climate change, maritime security, and counterterrorism.
BIMSTEC serves as a platform for dialogue, cooperation, and partnership among its member states, providing opportunities for engagement, exchange, and collaboration in pursuit of common goals and shared interests. As a bridge between South Asia and Southeast Asia, BIMSTEC plays a vital role in promoting regional peace, stability, and prosperity in the Bay of Bengal region through collective efforts and mutual cooperation among its member countries.