Sri Lanka takes over chairmanship of 5th Summit of BIMSTEC

The 4th edition of Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Summit 2018 was successfully concluded in Kathmandu, Nepal with Kathmandu declaration on August 30 to 31. From India, Prime Minister Narendra Modi attended the summit that focused on increasing regional connectivity between the BIMSTEC nations including roads, airways and transmission lines. A Memorandum of Understanding (MoU) was also signed on establishing a BIMSTEC Grid Interconnection to enhance energy cooperation among the member-States. The BIMSTEC, comprising India, Bangladesh, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal, accounts for 22% of the global population. It has a combined GDP of USD 2.8 trillion. Here, Sri Lankan President Maithripala Sirisena took over the Chairmanship of the 5th Summit of BIMSTEC. Now, the next BIMSTEC summit will be held in Sri Lanka.