CURRENT AFFAIRS

Detailed explanation-1: -This sub-regional organization came into being in 1997 through the Bangkok Declaration. Initially, it was formed with four Member States with the acronym ‘BIST-EC’ (Bangladesh, India, Sri-Lanka and Thailand Economic Cooperation). It became renamed ‘BIMST-EC’ in 1997, following the inclusion of Myanmar.

Detailed explanation-2: -2. BIST-EC (Bangladesh, India, Sri Lanka, Thailand-Economic Cooperation) was formed at a meeting in Jun 1997 in Bangkok. Myanmar was admitted in Dec 1997 and the organization was renamed as BIMST-EC.

Detailed explanation-3: -The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional organization that was established on 06 June 1997 with the signing of the Bangkok Declaration.

Detailed explanation-4: -Which country was the host of the BIMSTEC summit in 2022? In 2022, Sri Lanka served as the host country for the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Summit.

Detailed explanation-5: -7 countries are members of Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC). The member countries are India, Bhutan, Bangladesh, Myanmar, Thailand, Nepal, Sri Lanka. BIMSTEC countries comprise 21% of the world’s population.