The Ministry of External Affairs will organise the first ever BIMSTEC Business Summit from August 6 to 8, in collaboration with the Confederation of Indian Industries, an announcement stated on Monday.
The first-ever Business Summit is likely to bring further regional cooperation in strengthening trade and investment ties among the member nations of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation, commonly known as BIMSTEC. This regional grouping consists of five South Asian nations: Bangladesh, Bhutan, Nepal, India, and Sri Lanka, and two South-East Asian countries that include Myanmar and Thailand.
The Summit will be inaugurated by External Affairs Minister S. Jaishankar. Keynote addresses will be delivered on the occasion by Commerce and Industries Minister Piyush Goyal, among others. Other participants include Ministers in charge of Trade, Commerce, Industry, and Energy from the BIMSTEC Member States. It will also be attended by high-ranking officials in various governments, policy-makers, entrepreneurs, and industry associations.
The Summit is expected to bring together over 300 key participants from the Bay of Bengal Region who are striving for enhanced economic collaboration on issues relating to trade facilitation, regional connectivity, energy security, and inclusive growth for sustainable development.
Participation in the 4th Annual Meeting of BIMSTEC countries was held last month, in which National Security Advisor Ajit Doval participated. During the visit, Doval called on Myanmar's NSA, Admiral Moe Aung, and the BIMSTEC Security Chiefs, who later called upon Prime Minister Senior General Min Aung Hlaing.
In the national statement, NSA Doval has put in a strong pitch for cooperation in counter-terrorism, drug trafficking, arms smuggling, and organized crime. Other issues he also raised were BIMSTEC connectivity-related issues, the second Ports Conclave, and water security concerning Himalayan river systems.
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