11, Sep 2018
Prelims level : Mains level : Paper – II Regional Groupings
- The fourth BIMSTEC summit concluded in Kathmandu with the leaders reaffirming their strong commitment to make BIMSTEC.
- A dynamic, effective and result-oriented regional organization.
- Reiterating strong commitment to combat terrorism the leaders called upon all countries to devise a comprehensive approach to prevent financing of terrorists and terrorist actions from territories under their control, blocking recruitment and cross-border movement of terrorists, countering adicalization, countering misuse of internet for purposes of terrorism and dismantling terrorist safe havens.
- The leaders also committed themselves for promoting a peaceful, prosperous and sustainable Bay of Bengal region through meaningful cooperation and deeper integration.
- The leaders of all seven-member states including prime minister Narendra Modi underscored the importance of robust institutional arrangements to effectively steer the process of regional cooperation under BIMSTEC.
- The Kathmandu declaration underlined the importance of multidimensional connectivity as a key enabler for economic integration and shared prosperity of the region.
- The fight against terrorism should target not only terrorists, terror organisations and networks but also identify and hold accountable states and non-state entities that encourage, support or finance terrorism, provide sanctuaries to terrorists and terror groups and falsely extol their virtues
- The declaration acknowledged the importance of trade and investment as one of the major contributing factors for fostering economic and social development in the region.
- The summit agreed to expedite the conclusion of BIMSTEC convention on mutual legal assistance in criminal matters and called upon the member states for its early ratification.
- The summit agreed to establish seamless multi-modal transportation linkages and smooth, synchronised and simplified transit facilities through the development, expansion and modernisation of highways, railways, waterways, sea routes and airways in the region.
Chairmanship of BIMSTEC:
- The Chairmanship of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) rotates among the Member States.
- The Chairmanship of the BIMSTEC was handed over to Sri Lankan President Maithripala Sirisena by Nepal’s Prime Minister Sharma Oli.
- The 5th BIMSTEC Summit will be held in Sri Lanka.