3rd BIMSTEC Summit 2014-Nay Pyi Taw, Myanmar

History

3rd BIMSTEC summit was held in 4 March, 2014 at Nay Pyi Taw. It's theme is “Partnership for Harmony and prosperity” This is attend by Bangladesh, India, Myanmar, sri Lanka, Thailand, Bhutan and Nepal.

BIMSTEC means look East for India, Look west for Thailand and route to connect the South Asia with Southeast Asia.

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.

Highlights of the summit

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.