World News | BIMSTEC Charter Enters into Force; India Hails Development

New Delhi [India], May 21 (ANI): The BIMSTEC Charter entered into force on Monday, which paves the way for the admission of observers and new members, as well as, providing a legal and institutional framework for cooperation.

BIMSTEC stands for 'Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation'.

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It is an international organisation comprising of seven countries: India, Bhutan, Bangladesh, Myanmar, Thailand, Nepal, and Sri Lanka. It aims to foster deeper cooperation in the Bay of Bengal region.

"The Charter of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) entered into force on 20 May 2024," the official website of BIMSTEC stated.

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"It paves the way for external partnerships and admission of observers and new members. The Charter was signed by the Heads of State and Government of the BIMSTEC member States during the Fifth Summit held virtually in Colombo, Sri Lanka, on 30 March 2022," the statement added.

The Ministry of External Affairs hailed the development and said that it enables BIMSTEC to partner with other interested countries/organisations and admit Observers and new Members

"A significant milestone for BIMSTEC regional cooperation! BIMSTEC Charter entered into force on 20 May 2024, providing legal and institutional framework for meaningful cooperation and deeper integration of the Bay of Bengal region," MEA spokesperson Randhir Jaiswal said.

"It enables BIMSTEC to partner with other interested countries/organisations and admit Observers and new Members," he added.

https://x.com/MEAIndia/status/1792930666167910591

External Affairs Minister S Jaishankar also lauded the development and said that it reaffirms India's commitment to a "prosperous, peaceful and sustainable neighbourhood."

"The entry into force of the BIMSTEC Charter reaffirms India's commitment to a prosperous, peaceful and sustainable neighbourhood. It is achieved by building on our shared history, culture, vision and mutual respect for each other. BIMSTEC reflects the synthesis of our Neighbourhood First and Act East policies!" Jaishankar stated on X.

https://x.com/DrSJaishankar/status/1792935833432940833

Notably, the sixth BIMSTEC summit is scheduled to take place in 2024 in Thailand.

For India, the BIMSTEC regional forum acts as a convergence of its "Neighbourhood First" policy, or "Act East" outlook and the interests of the Indian Ocean. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)