The BIMSTEC Charter officially started working on May 20, 2024, setting up rules for working together better in the Bay of Bengal area. This means countries in this region can work with others who want to help out, and they can let new countries join in too. The Charter was made official during a big meeting in Sri Lanka on March 30, 2022.
With Nepal’s parliamentary approval in April 2024, all BIMSTEC Member States completed the ratification process, paving the way for the Charter’s implementation.
BIMSTEC Charter
The BIMSTEC Charter outlines the long-term goals and priorities of its Member States, providing a legal and organizational framework for cooperation in various sectors. It grants BIMSTEC legal recognition, allows for the admission of new members and observers, and facilitates agreements with other countries and organizations.
The adoption and enforcement of the Charter demonstrate the collective commitment of BIMSTEC Member States to foster regional cooperation in crucial areas such as security, connectivity, trade, agriculture, environment, science and technology, and people-to-people contact.
Member countries of BIMSTEC?
BIMSTEC comprises seven countries surrounding the Bay of Bengal: India, Thailand, Bangladesh, Bhutan, Nepal, Myanmar, and Sri Lanka. Together, they represent nearly 22 percent of the global population and boast a combined GDP of USD 3.6 trillion.
With the Charter in effect, BIMSTEC nations are poised to collaborate more effectively, addressing common challenges and leveraging opportunities for mutual benefit.