Its objective is to create environment for rapid economic development through identify and implement of specific projects and the sector of trade and investment, technology, agriculture, transport and communication, transactional crime and climate change.
India is also working with BIMSTEC members to improve physical connectivity through various projects such as the India Myanmmar. The Asean plan for connectivity and others.
All members arrange the threat that terrorism poses to peace, stability and economic progress and agreed for closer cooperation in combating all forms of terrorism and transnational crimes.
And all members agreed to explore collaborative amongst the member and impact of climate change in the BIMSTEC region.
The members decided to move forward finalization of the draft Agreement on Trade in Goods and agreed Rules of Origin and Product Specific Rules.