BIMSTEC Charter Enters into Force
20 May 2024
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Charter officially came into force on 20 May 2024. This development marks a crucial step forward for the regional organization, opening up new avenues for collaboration and growth.
The Charter, which was initially signed during the Fifth BIMSTEC Summit on 30 March 2022 held virtually in Colombo, Sri Lanka, received the endorsement of all member states' Heads of State and Government.
With the Charter now in force, BIMSTEC has gained the ability to expand its reach and influence. It establishes a framework for the organization to forge external partnerships, admit observers, and welcome new members. This enhanced flexibility is expected to strengthen BIMSTEC's role in promoting technical and economic cooperation in the Bay of Bengal region, potentially leading to increased regional integration and development.
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