Key Outcomes of 5th BIMSTEC Summit | Featured News for UPSC CSE

The 5th Summit of the Bay of Bengal Initiative for Multi-Sectoral Technical Economic Cooperation (BIMSTEC) was hosted by the Sri Lanka in Colombo in hybrid mode on 30th March 2022.
Key-Outcomes Include:
• Adoption of the BIMSTEC Charter, which formalizes the grouping into an international organization made up of member states that are littoral to, and dependent upon, the Bay of Bengal.
• Rationalized Areas of cooperation under BIMSTEC. The 14 areas of cooperation under BIMSTEC have been rationalized to 7 pillars of cooperation. Henceforth, each of the member countries will lead one pillar. India will lead the security pillar of the BIMSTEC.
o It also instructs the BIMSTEC Secretariat to develop Plans of Action in consultation with Lead Countries of the reconstituted Sectors and Sub-Sectors to guide their activities and to establish necessary institutional mechanisms to carry out their respective mandates.
• BIMSTEC Masterplan on Transport Connectivity: The adoption of the ‘Master Plan for Transport Connectivity’ lays out a guidance framework for connectivity related activities in the region in the future

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[suryak]

Such an good and elaborate video and quite depth discussion...