BIMSTEC Introduction Presentation - Bhattarai Prajwal - International Business

1. Introduction to BIMSTEC. Prajwal BhattaraiEmail : prajwal7bhattarai@gmail.com - International Business Presentation.

2. Overview • The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is an international organisation of seven nations of South Asia and Southeast Asia • It constitutes seven Member States: five deriving from South Asia, including Bangladesh, Bhutan, India, Nepal, Sri Lanka, and two from Southeast Asia, including Myanmar and Thailand. • It holds 1.5 billion people and having a combined gross domestic product of $3.5 trillion (2018). • Secretariat: Dhaka, Bangladesh and Establishment: 6 June 1997; 22 years ago.

3. Objectives. • To accelerate the economic growth and social progress in the sub-region through joint partnership. • To promote active collaboration and mutual assistance on matters of common interest in the economic, social, technical and scientific fields. • To provide assistance to each other in the form of training and research facilities in the educational, professional and technical spheres. • To cooperate in projects and maintain close and beneficial cooperation with existing international and regional organizations

4. BIMSTEC’s Principles: • -Cooperation within BIMSTEC will be based on respect for the principle of sovereign equality, territorial integrity, political independence, no-interference in internal affairs, peaceful co- existence and mutual benefit. • -Cooperation within BIMSTEC will constitute an addition to and not be a substitute for bilateral, regional or multilateral cooperation involving the Member States.

5. Working Areas of BIMSTEC • Six priority sectors of cooperation were identified at the 2nd Ministerial Meeting in Dhaka on 19 November 1998. They include the followings: • Trade & Investment • Transport & Communication • Energy • Tourism • Technology • Fisheries

6. Continue... • After the 8th Ministerial Meeting in Dhaka on 18-19 December 2005, a number of new areas of cooperation emerged. The number of priority sectors of cooperation increased from 6 to 13. The sectors are as follows; • Agriculture • Public Health • Poverty Alleviation • Counter-Terrorism & Transnational Crime • Environment & Disaster Management • People-to-People Contact • Cultural Cooperation

7. Continue... • The thirteenth Session of the BIMSTEC Senior Officials’ Meeting recommended the inclusion of Climate Change as the 14th priority area of cooperation. • The eleventh BIMSTEC Ministerial Meeting held in New Delhi in November 2008 endorsed this recommendation. • Climate Change

8. BIMSTEC Mechanism • The main working mechanism of BIMSTEC is categorized as follows: 1. Policy-Making Bodies • BIMSTEC Summit, Ministerial Meetings & Foreign Ministerial Meetings (MM) 2. Trade/Economic Ministerial Meetings (TEMM) 3. Operational Bodies

9. Continue... 4. Senior Officials’ Meetings (SOM) 5. Senior Trade/Economic Officials’ Meetings (STEOM) 6. Business Forum and Economic Forum 7. Coortdinating Body 8. Expert Group Meeting

10. Conclusion / Additional Information • BIMSTEC Secretariat become a hallmark of proud partnership of the Seven-Member States the Bay of Bengal which is pioneer in International Business. • 5 of 8 SAARC members (Afghanistan, Maldives, and Pakistan are not BIMSTEC members) • Sri Lanka is the present chair of BIMSTEC from 2018. • Headquarter of BIMSTEC lies in Dhaka, Bangladesh. • The Fourth BIMSTEC Summit was held in Kathmandu on 30-31 August 2018.

11. References : • BIMSTEC Secretariat, Dhaka. • Nepal and BIMSTEC - Ministry of Foreign Affairs Nepal MOFA. • BIMSTEC | bilaterals.org • BIMSTEC | ORF • Bimstec - Who are the Members and countries of Bimstec by Business Insider. • BIMSTEC and the fourth industrial revolution.

12. Thankyou !!! Any Questions ?