Context:
India recently seconded a senior diplomat to drive BIMSTEC as its 4th Secretary-General (SG).
BIMSTEC:
- BIMSTEC – Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation.
- A regional organization group of littoral countries encircling the Bay of Bengal with own flag and emblem.
- Established in 1997 with the signing of the Bangkok Declaration.
- Aim – To foster economic and social development among member countries.
- Members – 7 members (Bangladesh, Bhutan, India, Nepal, Sri Lanka, Myanmar and Thailand).
- 5 members from SAARC and 2 from ASEAN
- Secretariat at – Dhaka, Bangladesh.
- BIMSTEC Charter – Signed and adopted during the 5th BIMSTEC Summit in Sri Lanka in 2022.
- Year 2022 marked the 25th anniversary of BIST-EC formation.
BIMSTEC was initially known as BIST-EC (Bangladesh, India, Sri Lanka, Thailand- Economic cooperation) before the joining of Myanmar (1997), Bhutan (2004) and Nepal (2004).
BIMSTEC Centres:
- BIMSTEC Energy Centre (BEC) –
- Location – Central Power Research Institute (Bengaluru)
- Function – Secretariat of the BIMSTEC Grid Interconnection Coordination Committee.
- BIMSTEC Centre on Weather and Climate –
- Location – National Centre for Medium Range Weather Forecasting (NCMRWF) (Uttar Pradesh)
- BIMSTEC Cultural Industries Observatory – proposed for the establishment of BIMSTEC Cultural Industries Commission (BCIC) and the BIMTEC Cultural Industries Observatory (BCIO) in Bhutan.
- BIMSTEC Technology Transfer Facility – Memorandum of Association (MoA) signed during the 5th BIMSTEC Summit.
Importance of BIMSTEC:
- The seven countries around the Bay of Bengal are home to about 22% of the global population, boasting a combined GDP nearing USD 2.7 trillion.
- From 2012 to 2016, these countries have consistently maintained annual growth rates ranging from 3.4% to 7.5%.
- Every year, a quarter of the world’s goods are traded across the Bay of Bengal.
Source: The Hindu
Previous Year Question
Consider the following statements about G-20:
1. The G-20 group was originally established as a platform for the Finance Ministers and Central Bank Governors to discuss international economic and financial issues.
2. Digital public infrastructure is one of India’s G-20 priorities.
Which of the statements given above is/are correct?
[UPSC Civil Services Exam – 2023 Prelims]
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer: (c)
