Bimstec Nations

India inks agreement to establish Bimstec Energy Centre in Bengaluru

Earlier on September 28, External Affairs Minister S Jaishankar reiterated India's dedication to strengthening ties with Bimstec during a meeting of foreign ministers

India always cares for, looks after interests of Global South: Piyush Goyal

India has always looked upon itself as a responsible nation, which cares for and looks after the interests of the Global South, Commerce and Industry Minister Piyush Goyal said on Wednesday. He also said that the welfare of all the people of the world is a collective responsibility of every nation. The Global South broadly includes developing and least developed countries of regions such as Africa and Asia. "We do believe that we would like to be a friend to every country in the world, more so the member states of BIMSTEC, the seven nations who collectively make up a very large number of people, almost 22 per cent of the world population," Goyal said. The minister was speaking at CII's BIMSTEC Business Summit 2024 here. The remarks assume significance as India's neighbouring country Bangladesh is facing political turmoil. "We are all deeply concerned about the evolving situation in Bangladesh and we wish the people of Bangladesh well. We will all collectively convey our best wish

Piyush Goyal suggests Bimstec group members to relook proposed FTA

Commerce and Industry Minister Piyush Goyal on Wednesday suggested the seven member countries of the BIMSTEC bloc to relook at the progress of Free Trade Agreement talks which are moving at a very slow pace. He said that the members can think of negotiating a preferential trade agreement instead of a full-fledged free trade pact. BIMSTEC stands for the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation. Its seven members are five South Asian countries (Bangladesh, Bhutan, Nepal, India, and Sri Lanka) and two Southeast Asian countries (Myanmar and Thailand). The bloc has been negotiating a proposed Free Trade Agreement (FTA) since 2004. So far over 20 rounds of talks have been held. The last one was held in 2018. "I would like to raise a few fundamental issues about where we stand and what are the possibilities of making this FTA a reality," Goyal said here at CIIs BIMSTEC Business Summit 2024. He said that so far 22 rounds of talks have been held for t

PM Modi highlights BIMSTEC's role as an engine for economic, social growth

Prime Minister Narendra Modi on Friday reaffirmed India's commitment to seven-nation grouping BIMSTEC and stressed on its role as an engine for economic and social growth. The foreign ministers of the BIMSTEC member states made a joint call on Modi on the second and final day of their retreat in Delhi. The Bay of Bengal Initiative for Multi-sectoral Technical and Economic Cooperation (BIMSTEC), brings together seven countries of South and Southeast Asia for multifaceted cooperation. Besides India, the BIMSTEC comprises Sri Lanka, Bangladesh, Myanmar, Thailand, Nepal and Bhutan. "Glad to meet BIMSTEC Foreign Ministers. Discussed ways to strengthen regional cooperation, including connectivity, energy, trade, health, agriculture, science, security and people-to-people exchanges. Conveyed full support to Thailand for a successful Summit," Modi said on X. A readout by the PMO said Modi reaffirmed India's commitment to a peaceful, prosperous, resilient and safe BIMSTEC region and ...

India, other BIMSTEC countries deliberate on counter-terror measures

The inaugural session of the meeting was addressed by Sanjay Verma, Secretary (West) in the MEA

India urges BIMSTEC nations to work in cooperation to transform farm sector

Union Agriculture Minister Narendra Singh Tomar on Thursday urged the member countries of BIMSTEC to work together for development of a comprehensive regional strategy to strengthen cooperation for transformation of farm sector. India hosted the second Agriculture Ministerial-level meeting of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) here under the chairmanship of Tomar, an official statement said. Agriculture ministers of Bhutan, Bangladesh, Nepal, Myanmar, Sri Lanka and Thailand participated in the meeting. BIMSTEC was established in 1997. It includes five countries of South Asia -- Bangladesh, Bhutan, India, Nepal, Sri Lanka and two countries of South-East Asia -- Myanmar and Thailand. Addressing the meeting virtually, Tomar urged the "member countries to cooperate in developing a comprehensive regional strategy to strengthen cooperation for the transformation of agriculture." He emphasised on the importance of millet as a ...

BIMSTEC secretary-general to pay four-day visit to India next week

Tenzin Lekphell, the secretary general of the seven-nation grouping BIMSTEC, will pay a four-day visit to India beginning Monday to explore ways to take forward the bloc's cooperative agenda. India has been making concerted efforts to make BIMSTEC a vibrant forum for regional cooperation as initiatives under SAARC (South Asian Association for Regional Cooperation) were not moving forward for a variety of reasons. Announcing Lekphell's visit from August 22 to 25, the Ministry of External Affairs (MEA) said he will hold discussions with senior Indian officials on how to take forward cooperation in sync with the mandate of its leaders. Besides India, the BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) comprises Sri Lanka, Bangladesh, Myanmar, Thailand, Nepal and Bhutan. At the 5th BIMSTEC Summit held in Sri Lanka on March 30, the leaders of the member nations adopted a charter and a connectivity roadmap to make the grouping a vibrant platform f

Government pushes for trade pact among Bimstec nations

Since its inception in 1997, the grouping has been slow to move on economic cooperation and regional connectivity

Want India to coordinate with Nepal to improve road connectivity: Nepal commerce minister

Nepal has proposed 4 additional transit points for land trade with India

Early Bimstec pact around Bay of Bengal will spur regional trade: Study

Study also found, there was no need to liberalise trade and investment measures in services considering the lack of physical infrastructure in the region