BIMSTEC, which stands for the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation, is a regional organization that promotes cooperation and integration among countries in the Bay of Bengal region. BIMSTEC was established on June 6, 1997, and it aims to enhance economic and technical cooperation among its member states.
BIMSTEC aims to promote cooperation and integration in various sectors, including:
- Facilitating trade and investment among member states to promote economic growth and development.
- Enhancing connectivity through the development of infrastructure, transport networks, and transit agreements.
- Promoting cooperation in the energy sector, including the development of renewable energy sources and the efficient use of energy resources.
- Encouraging tourism and people-to-people exchanges within the region to boost the tourism industry.
- Collaborating on agricultural research, rural development, and food security initiative. Addressing environmental challenges and promoting sustainable development practices.
- Combating terrorism and transnational crimes through regional cooperation and information s haring.
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