Categories: Current AffairsSummits and Conferences

India To Host BIMSTEC Business Summit

The Ministry of External Affairs of the Government of India in association with Confederation of Indian Industries (CII) will host the 1st BIMSTEC Business Summit in New Delhi on August 6, 2024.

Aims of the first edition of the Business Summit

The first edition of the Business Summit aims to foster greater regional collaboration through robust trade and investment relations among the member countries of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC).

Participatory members

The Business Summit will be inaugurated by External Affairs Minister Dr. S. Jaishankar. Minister of Commerce and Industries Shri Piyush Goyal and other leaders will deliver key note addresses. Several Ministers of the BIMSTEC Member States from the ambit of Trade, Commerce and Industry, as well as Energy, along with high-ranking Government officials, policy makers, entrepreneurs and industry associations will participate in the event.

More than 300 key stake holders

The event will bring together more than 300 key stake holders from across the Bay of Bengal region to facilitate economic collaboration and explore ways ahead in focus areas such as trade facilitation, regional connectivity, energy security, inclusive growth and sustainable development.

Great importance to BIMSTEC

India attaches great importance to Bay of Bengal Initiative for Multi Sectoral Technical and Economic Cooperation (BIMSTEC) which links five countries from South Asia (Bangladesh, Bhutan, Nepal, India & Sri Lanka) and two from South-East Asia (Myanmar & Thailand).

About BIMSTEC

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is an international organisation of seven South Asian and Southeast Asian nations, housing 1.73 billion people and having a combined gross domestic product of US$5.2 trillion (2023). The BIMSTEC member states Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand are among the countries dependent on the Bay of Bengal.