The fourth summit of the BIMSTEC 2018 concluded successfully in Nepal on Friday and India was represented by Prime Minister Narendra Modi. During the Summit, the Prime Minister of Nepal K.P Sharma forwarded the Chairmanship of BIMSTEC to the Sri Lankan President. Sri Lanka will now be the host of the next BIMSTEC summit after K.P Sharma handed over the onus to it.
The Nepalese Prime Minister congratulated Sri Lanka for assuming the role of the new host for next BIMSTEC summit and also extended gratitude towards all the leaders present at the 4th BIMSTEC summit. He also acknowledged the support of the leaders of the member states towards the success of the 4th BIMSTEC summit. The third BIMSTEC summit was held in 2014 and the 4th summit had come after a gap of 4 years.
Kathmandu Declaration Adopted
President of Nepal, KP Sharma presented a draft of the Kathmandu Declaration which was adopted unanimously by all the member states. BIMSTEC is a cluster body of seven nations including India, Myanmar, Sri Lanka, Nepal, Thailand, Bhutan and Bangladesh. These nations account for as much as 22% of the global population and also a large chunk of the world’s GDP. The Kathmandu Declaration talks about collective wisdom, thought and vision to maintain peace and prosperity in the Bay of Bengal region.
MOU on Grid Interconnection Signed
The member nations also signed a memorandum of understanding relating to the setting up of the BIMSTEC Grid Interconnection. This grid will be aimed at bolstering the energy cooperation among member nations.
India-Myanmar Relations Enhanced
On the sidelines of the BIMSTEC summit, India held talks with Myanmar over bolstering bilateral ties between the two nations. Development cooperation and sectors of energy cooperation remained at the top of the discussions held between India and Myanmar. Now the next BIMSTEC summit will be held in Sri Lanka and it remains to be seen if the leaders keep their pledge to revive this regional body or not.
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