The Ministry of External Affairs, in collaboration with the Confederation of Indian Industries (CII), will host the first BIMSTEC Business Summit in New Delhi on August 6, 2024. This significant event aims to strengthen regional collaboration through enhanced trade and investment relations among the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) member countries.
External Affairs Minister Dr. S. Jaishankar will inaugurate the summit. Commerce and Industries Minister Shri Piyush Goyal, along with other leaders, will deliver keynote addresses. Ministers from BIMSTEC member states, high-ranking government officials, policymakers, entrepreneurs, and industry associations will participate, highlighting the importance of this collaborative effort.
Over 300 key stakeholders from the Bay of Bengal region will attend the summit. The event will focus on economic collaboration in areas such as trade facilitation, regional connectivity, energy security, inclusive growth, and sustainable development. This gathering aims to create a platform for dialogue and partnership among member nations.
India places great importance on BIMSTEC, which connects five South Asian countries (Bangladesh, Bhutan, Nepal, India, and Sri Lanka) and two Southeast Asian countries (Myanmar and Thailand). This initiative fosters cooperation and development in various sectors across the region, emphasizing India’s commitment to regional integration.
BIMSTEC, an international organization of seven South Asian and Southeast Asian nations, represents 1.73 billion people and a combined GDP of $5.2 trillion (2023). The member states depend on the Bay of Bengal for their economic activities, highlighting the importance of this summit in promoting regional prosperity.
Source: Adda 247