Current Affairs Summits

Category : Summits

The 4th BIMSTEC Summit has been successfully concluded in Kathmandu, the capital of Nepal. The leaders of all seven member states including Prime Minister Narendra Modi underscored the importance of robust institutional arrangements to effectively steering the process of regional cooperation under BIMSTEC. The Prime Minister of Nepal K.P. Sharma Oli presented draft Kathmandu declaration which was unanimously adopted by the all member states.

Key points of the Kathmandu Declaration:    1. The Kathmandu Declaration has underlined the importance of multidimensional connectivity as a key enabler to economic integration for the shared prosperity of the region.  2. The declaration also highlighted the importance of trade and investment as one of the major contributing factors for fostering economic and social development in the region. 3. The BIMSTEC leaders strongly condemned terrorism in all its forms and manifestations and stressed that there can be no justification whatsoever for any act of terrorism.  4. An MoU was also signed during concluding session of 4th BIMSTEC summit on the establishment of BIMSTEC Grid Interconnection to enhance energy cooperation among the member states.  5. Sri Lanka has become the new chair of the BIMSTEC. The Nepalese Prime Minister K. P. Sharma Oli handed over the chairmanship of BIMSTEC to the President of Sri Lanka Maithripala Sirisena.