When was BIMSTEC established?
Show answer & explanation
Correct answer: A
Explanation
Correct Answer: 1997
Explanation
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) was established on 6 June 1997 through the Bangkok Declaration. It began as BIST-EC (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation) and later expanded its membership to include other countries in the region.
Key Points
BIMSTEC serves as a bridge between South and Southeast Asia, focusing on enhancing regional cooperation across various sectors like trade, technology, energy, and transport.
The founding member countries were Bangladesh, India, Sri Lanka, and Thailand. Myanmar joined later in 1997, followed by Nepal and Bhutan in 2004.
The organization aims to promote economic growth and social progress in the Bay of Bengal region through collaborative efforts.
Additional Facts
The permanent secretariat of BIMSTEC is located in Dhaka, Bangladesh.
The organization places significant emphasis on connectivity, which includes infrastructure projects like road and port developments to boost inter-regional trade.
Important Questions
Question: What was the original name of BIMSTEC when it was formed in 1997?
Answer: It was originally known as BIST-EC (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation).
Question: Where is the permanent headquarters of BIMSTEC located?
Answer: The permanent secretariat is located in Dhaka, Bangladesh.