What is BIMSTEC?
• The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) was founded in 1997.
• It is an international regional organisation of seven nations of South Asia and South East Asia.
• The BIMSTEC member countries are Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan, and Nepal. All these seven countries lie near the Bay of Bengal.
• The first BIMSTEC summit was held in Thailand in 1997; second was held in 2008 in India; the third was held in 2014 in Myanmar and the fourth was held in 2018 in Nepal.
• Sri Lanka is the current Chair of the BIMSTEC.
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