The Minister of State (MoS- independent charge) for Shipping, Shri Mansukh Mandaviya inaugurated the 1st edition of the ‘BIMSTEC Ports’ Conclave’ held in Visakhapatnam, Andhra Pradesh(AP). Vizag port trust in AP, hosted the conclave.
Aim: The aim of the conclave was to strengthen the maritime interaction, port-led connectivity initiatives and sharing the best practices of the BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) member countries.
BIMSTEC members: Bangladesh, India, Myanmar, Sri Lanka, Thailand, Nepal and Bhutan.
3 Mou Signed:
A total of 3 Memorandum of Understanding(MoU) was signed between Ranong Port (Port Authority of Thailand) and the Port Trusts of Chennai, Visakhapatnam and Kolkata for strengthening the port connectivity which is one of the key objectives of the BIMSTEC member countries. This port connectivity is also part of India’s act east policy.
- Through this MoU, economic partnership will be enhanced by reducing the sea travel time between India and Thailand to 7 day from 10-15 days.
Other key highlights:
- Prime Minister Narendra Modi’s vision of SAGAR (Security and Growth for All in the Region) highlighting the motto of “ Sabka Saath Sabka Vikas (Collective Efforts Inclusive Growth)” that provides Peace, Prosperity and Security was reiterated in the conclave.
- Members present: Minister of Tourism, Culture and Youth Advancement, Govt of Andhra Pradesh Shri M S Rao; Minister of Industry, Commerce and Information Technology, Govt of Andhra Pradesh Shri MG Reddy along with Member of Parliament from Visakhapatnam Shri M.V.V. Satyanarayana and other officials attended the event.
As for now, there are Four BIMSTEC Summits were held , they are – 2008 (New Delhi), 2014 (Nay Pyi Taw), ans 2018(Kathmandu). A ‘BIMSTEC Outreach Summit and Leader’s summit’ was held in Goa in 2016.Founded- 6 June 1997.
Headquarters- Dhaka, Bangladesh.
Facts- The BIMSTEC region comprises of 22% of the world population. So far 4 BIMSTEC summits have been held.