Published on: November 12, 2022
Why in news?
India hosted the 2nd BIMSTEC Agriculture Ministers meeting
- An MoU between the BIMSTEC Secretariat and the International Food Policy Research Institute (IFPRI) has been signed and approval has been given to bring Fisheries and Livestock sub-sectors under the Agricultural Working Group.
- India Referred the importance of millet as a nutritious food and highlighted the efforts made to promote millet and its products during the International Year of Millets – 2023.
- Member countries appreciated India’s efforts to strengthen cooperation in agricultural research and development and for awarding six scholarships each for postgraduate and PhD programmes in agriculture.
- Formation : Bangkok declaration under the name BIST-EC (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation).
- Nature of organisation: International organisation of seven South Asian and Southeast Asian nations,
- Members : Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand
- Leadership : Rotated in alphabetical order of country names.
- The permanent secretariat: Dhaka, Bangladesh.
- Current Secretary General of the BIMSTEC: Ambassador Tenzin Lekphell from Bhutan
- BIMSTEC Free Trade Area Framework Agreement:
- BIMSTEC Free Trade Area Framework Agreement (BFTAFA) : 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
- Other agreements
- BIMSTEC Coastal Shipping Agreement: To facilitate coastal shipping within 20 nautical miles of the coastline in the region to boost trade between the member countries
- The first ever BIMSTEC Conclave of Ports summit was held in Visakhapatnam, India
- Cooperation with Asian Development Bank (ADB): To undertake the “BIMSTEC Transport Infrastructure and Logistic Study”