... MoUs and other important documents /instruments envisaged to be signed/adopted at the Fifth BIMSTEC Summit. All the content on this website is copyright protected and can be reproduced only by giving the due courtesy to 'dailymirror.lk' Copyright © 2004 Wijeya Newspapers Ltd. Sri Lanka has been selected to chair the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) this year, an event if held physically as planned would help increase tourism traffic to the country. BRICS - Brazil, Russia, India, China, and South Africa. On 16th January, 2021, the Ministry of Railways issued Iron-ore policy 2021 that will govern the allocation of rakes (train) and transportation of iron-ore across the country. [4][7] A BIMSTEC free trade agreement is under negotiation (c. 2018), also referred to as the mini SAARC. [4][11] The current Secretary General of the BIMSTEC is Ambassador Tenzin Lekphell from Bhutan and the former Secretary General was Mr. Shahidul Islam from Bangladesh. However, it is reported that Sri Lanka, as the chair of the grouping this year, is eyeing a physical summit. [21], Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation, বঙ্গোপসাগরীয় বহুক্ষেত্রীয় প্রযুক্তিগত ও অর্থনৈতিক সহযোগীতা উদ্যোগ (বিম্সটেক্), ဘင်္ဂလားပင်လယ်အော် စီးပွားရေးနှင့် နည်းပညာဆိုင်ရာ ဘက်စုံ ပူးပေါင်း ဆောင်ရွက်ရေး အဖွဲ့အစည်း (ဘင်းမ်စတက်), बहुक्षेत्रीय तकनीकी और आर्थिक सहयोग के लिए बंगाल की खाड़ी पहल (बिम्सटेक), बहुक्षेत्रीय प्राविधिक तथा आर्थिक सहयोगका लागि बङ्गालको खाडीको प्रयास (बिम्स्टेक), බෙංගාල බොක්ක ආශ්රිත රටවල බහු ආංශික තාක්ෂණික A new joint roadmap was adopted there, for the years 2019 to 2024. In 2021, the 13th BRICS Summit is hosted by India. Get the updated list of BRICS Summits, notes on the New Development Bank (NDB) and more. [17], The BIMSTEC Coastal Shipping Agreement[18] draft was discussed on 1 December 2017 in New Delhi, to facilitate coastal shipping within 20 nautical miles of the coastline in the region to boost trade between the member countries. The Chairmanship of the BIMSTEC has been taken in rotation commencing with Bangladesh (1997–1999). [12], Nepal Khadga Prasad Sharma Oli, Prime Minister, 14 priority areas have been identified with the lead nations appointed to lead the effort:[4][7][14], The BIMSTEC Free Trade Area Framework Agreement (BFTAFA) has been signed by all member nations to stimulate trade and investment in the parties, and attract outsiders to trade with and invest in the BIMSTEC countries at a higher level. Michael, Arndt (2013). The permanent secretariat is in Dhaka, Bangladesh. - 0 - {{hitsCtrl.values.hits}}. 145–163. India's Foreign Policy and Regional Multilateralism (Palgrave Macmillan), pp. Macron received the then Japanese PM Abe in October 2018 and again in April 2019, and the two met on the sidelines of the G7 summit in Biarritz in August 2019. In February 2004, Nepal and Bhutan become full members. The most recent BRICS summit took place in Brazil from 13 to 14 November 2019.India will host the BRICS 2021 summit at New Delhi & amid tensions with China, Xi Jinping had made a soft move by supporting India's Chairmanship in 2021. Sectors 7 to 13 were added at the 8th Ministerial Meeting in Dhaka in 2005 while the 14th sector was added in 11th Ministerial Meeting in New Delhi in 2008. 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, housing 1.5 billion people and having a combined gross domestic product of $3.5 trillion (2018). ආර්ථික සහයෝගීතාව සඳහා වන එකමුතුව(බිම්ස්ටෙක්), பல துறை தொழில்நுட்ப மற்றும் பொருளாதார ஒத்துழைப்புக்கான வங்காள விரிகுடா முயற்சி(பிம்ஸ்டெக்), ความริเริ่มแห่งอ่าวเบงกอลสำหรับความร่วมมือหลากหลายสาขาทางวิชาการและเศรษฐกิจ (บิมสเทค), BIMSTEC Free Trade Area Framework Agreement, Cooperation with Asian Development Bank (ADB). Once the agreement becomes operational after it is ratified, a lot of cargo movement between the member countries can be done through the cost effective, environment friendly and faster coastal shipping routes.[19]. Once negotiation on trade in goods is completed, the TNC would then proceed with negotiation on trade in services and investment. The BIMSTEC, formed in … Online news platform WION.com reported that the. 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. French President Emmanuel Macron travelled to Japan in June 2019 for a bilateral visit and for the 14th G20 summit. The 2021 edition of the BIMSTEC will be the fifth summit of the grouping after the 2018 session which took place in Kathmandu. [8][9] 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). - 0 - 559, 17 Mar 2021 The BIMSTEC uses the alphabetical order for the Chairmanship. See for a detailed historical account of the founding and evolution of BIST-EC and BIMST-EC e.g. BAFTA 2021: Ma Rainey's 'Black Bottom' the big winner on opening night On 7th and 8th of November, 2019, the first ever BIMSTEC Conclave of Ports summit was held in Visakhapatnam, India. Thailand, formerly known as Siam, and officially the Kingdom of Thailand, is a country in Southeast Asia.It is located at the centre of the Indochinese Peninsula, spanning 513,120 square kilometres (198,120 sq mi), with a population of over 66 million people. BIMSTEC is a regional grouping has 7 members — namely Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand — all of whom share coastal … For UPSC 2021, follow BYJU'S. Sri Lanka, the current chair of the Bay of Bengal Initiative for Multi-Sectoral and Economic Cooperation (BIMSTEC) has proposed to host the fifth Summit of the regional grouping in the first half of January 2021. Sri Lanka has invited India for the group's foreign ministers virtual meet on April 01. The BIMSTEC Permanent Secretariat at Dhaka was opened in 2014 and India contributes 32% of its expenditure. As per report, the iconic filmmaker co-wrote the script with Tony Kushner, who previously worked with the director on movies such as 'Munich' and 'Lincoln'. News updates The 2021 edition of the BIMSTEC will be the fifth summit of the grouping after the 2018 session which took place in Kathmandu. American actor Michelle Williams is in talks to star in the untitled film in a major role. The South Asian country is this year's host of the BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation). And First Secretary General was Mr. Sumith Nakandala from Sri Lanka. In 1998, Nepal became an observer. Four more deaths reported due to COVID-19, raising the death toll to 515, stated the Department of Government Information The Asian Development Bank (ADB) becomes a partner in 2005, to undertake the "BIMSTEC Transport Infrastructure and Logistic Study" (BTILS), which was completed in 2014. Subsequently, the "Trade Negotiating Committee" (TNC) was set up, with Thailand as the permanent chair, to negotiate in areas of trade in goods and services, investment, economic co-operation, trade facilitations and technical assistance for LDCs. [20] The main aims of this summit is providing a platform to strengthen maritime interaction, port-led connectivity initiatives and sharing best practices among member countries. - 0 - 943, 19 Mar 2021 Fourteen priority sectors of cooperation have been identified and several BIMSTEC centres have been established to focus on those sectors. 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). BIMSTEC platform can be used in addressing multi-prong challenges in the Post-Covid-19 Era in a more effective and powerful manner if we can activate the Forum effectively and fully with our collective efforts, he added. Member nations are denoted as Lead Countries for each sector. Two years after the Easter Sunday carnage people are left with false hopes an, Sinhala cinema’s pioneering director Lester James Peries is the Sri Lankan, This year marks two years since the deadly Easter Sunday attacks in Sri Lanka, With the Sri Lankan government successfully completing the first phase of the, 02 Apr 2021 Compared to the deep sea shipping, coastal ship require smaller vessels with lesser draft and involve lower costs. It aims to provide complete logistics support to iron and steel industry to meet the competitive challenges domestically and globally. The 5th summit was initially proposed to be held in September 2020, but due to Covid-19 pandemic, it was postponed. Zachary Quinto happy to 'jump back' to 'Star Trek' BTS announces 'Bang Bang Con 2021' virtual event. 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, housing 1.5 billion people and having a combined gross domestic product of $3.5 trillion (2018). Online news platform WION.com reported that the authorities are hoping to conduct the summit offline and the final decision will be taken considering the coronavirus pandemic. 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.[10]. The BIMSTEC, formed in 1997, has seven members: India, Nepal, Bhutan, Bangladesh, Myanmar, Thailand and Sri Lanka. The 5th BIMSTEC Summit is expected to be held in Colombo, Sri Lanka in 2021 subject to the COVID situation. Leadership is rotated in alphabetical order of country names. 5 April 2021 12:24 pm Latest News Headlines. Food For Thought By Zara Esufally and Humaira Azee, The Perfect Finish The Fashion Edit by Silvia Sena. South Asian Association for Regional Cooperation, South Asia Subregional Economic Cooperation, "Nepal unlikely to host fourth 'Bimstec' summit this year", "BIMSTEC summit ends with Oli presenting Kathmandu declaration", "Tenzin Lekphell begins journey as BIMSTEC Secretary General", BIMSTEC: Building bridges between South Asia & Southeast Asia, http://www.thedailystar.net/op-ed/economics/regional-economic-integration-the-bay-bengal-660181, "BIMSTEC a sunny prospect in BRICS summit at Goa", "BRICS Summit 2016: BIMSTEC members have economic opportunities to share, said Narendra Modi", "World Economic Outlook Database, October 2019", "India Cabinet Approves Signing of BIMSTEC Power Grid Pact | News | South Asia Subregional Economic Cooperation", "Nepal to join BIMSTEC Grid Interconnection", "Bimstec committee mulls free trade deal in Dhaka", "BIMSTEC meet: India's focus is coastal shipping, motor vehicle agreement", "BIMSTEC Member States discuss draft text of Coastal Shipping Agreement", "First BIMSTEC Conclave of Ports, Vishakhapatnam (November 7-8, 2019)", BIMSTEC Transport Infrastructure and Logistic Study, "Nepal proposes dates for Bimstec Summit", "4th BIMSTEC Summit: Kathmandu Declaration adopted by Member States", Association of Southeast Asian Nations (ASEAN), Collective Security Treaty Organization (CSTO), Cooperation Council for the Arab States of the Gulf (CCASG / GCC), Regional Comprehensive Economic Partnership (RCEP), South Asian Association for Regional Cooperation (SAARC), Ministry of Expatriates' Welfare and Overseas Employment, Bangladeshi Ministry of Expatriates' Welfare and Overseas Employment, Forum for India–Pacific Islands Cooperation, State visits by the Prime Ministers of India, https://en.wikipedia.org/w/index.php?title=Bay_of_Bengal_Initiative_for_Multi-Sectoral_Technical_and_Economic_Cooperation&oldid=1016054049, International organizations based in Asia, Articles containing Bengali-language text, Articles containing Burmese-language text, Articles containing Nepali (macrolanguage)-language text, Articles containing Sinhala-language text, Creative Commons Attribution-ShareAlike License. Four subgroups: Intelligence sharing – Sri Lanka (lead). BIMSTEC Grid Interconnection MoU signed in 2014. The completion of the Padma Bridge will create a host of new investment opportunities, said Huque. Oscar-winning filmmaker Steven Spielberg is set to direct a film that will be loosely based on his own childhood growing up in Arizona. BIMSTEC Network of Traditional Medicine in India, Provides cooperation to one another for the provision of training and research facilities in educational vocational and technical fields, Promote active collaboration and mutual assistance in economic, social, technical and scientific fields of common interest, Provides help to increase the socio-economic growth of the member countries, Regional disaster monitoring and warning system, This page was last edited on 5 April 2021, at 04:12.
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