The House of Representatives (HoR) of Nepal has approved the Charter of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC).
Key points
- BIMSTEC charter can only be enforced after its endorsement by parliament.
- Apart from Nepal, other six member countries of BIMSTEC have got the BIMSTEC Charter endorsed by their respective parliaments.
- BIMSTEC may forge regional collaboration for economic prosperity.
- BIMSTEC was formed in 1997 to enhance regional cooperation on issues like economic prosperity, social progress, scientific achievement, peace, stability and connectivity.
- Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand are members of BIMSTEC.
- Nepal became a member of BIMSTEC in 2004.
