The Ministry of External Affairs of India, together with the Confederation of Indian Industries (CII), is organizing the first BIMSTEC Business Summit on August 6, 2024, in New Delhi. This summit aims to improve cooperation among the countries that are part of the Bay of Bengal Initiative for Multi-Sector Technical and Economic Cooperation (BIMSTEC)
About BIMSTEC Business Summit
BIMSTEC which started in 1997, includes seven countries: Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan, and Nepal. Its focus is on improving trade, investment, and economic cooperation among its members. The summit promotes sectors like energy, trade, and technology. It has also addressed challenges such as climate change. The first formal summit took place in 2004, but BIMSTEC has become more active since 2015. The last summit was held in 2022 in Sri Lanka, during a time of regional political tensions.