India to Host First BIMSTEC Business Summit in New Delhi

Tags: Summits

India is hosting the first-ever BIMSTEC Business Summit in New Delhi from August 6-8.

An Overview of the News

• The event aims to enhance regional collaboration in the Bay of Bengal region.

• The Ministry of External Affairs, in collaboration with the Confederation of Indian Industries (CII), is organizing the three-day summit.

Key Figures and Inauguration:

• Inauguration: External Affairs Minister S. Jaishankar will open the summit.

• Keynote Speakers: Union Minister of Commerce and Industries Piyush Goyal and other prominent leaders will deliver keynote addresses.

Participants:

• The summit is expected to attract over 300 key stakeholders, including ministers from BIMSTEC member states, high-ranking government officials, policymakers, entrepreneurs, and industry associations.

Objectives:

• Goals: The summit aims to enhance regional collaboration through stronger trade and investment ties among BIMSTEC countries.

• Focus Areas: Discussions will cover trade facilitation, regional connectivity, energy security, inclusive growth, and sustainable development.

BIMSTEC Overview:

• Member Countries: BIMSTEC connects five South Asian countries (Bangladesh, Bhutan, Nepal, India, and Sri Lanka) with two Southeast Asian nations (Myanmar and Thailand).

• Recent Developments: This summit follows the 4th Annual Meeting of BIMSTEC Security Chiefs held in Naypyitaw, Myanmar, in July, where National Security Advisor Ajit Doval led the Indian delegation.