BIMSTEC Summit 2018 to be Hosted by Nepal

Nepal is going to host 2018 Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) summit.

• This announcement was made by the Prime Minister of Nepal, KP Sharma Oli during his meeting with Indian PM Narendra Modi in Kathmandu.
• BIMSTEC Summit 2018 would be the fourth edition of the summit of the seven-member grouping of the South Asian and South East Asian nations.
• The BIMSTEC is an international organisation of seven nations of South Asia and South East Asia, including Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan, and Nepal.
• BIMSTEC Summit is the highest policymaking body in BIMSTEC process and is comprised of heads of state/government of member states. 
• So far, only three Summit meetings have been held in 2004, 2008 and 2014. 
• BIMSTEC was established on 6 June 1997 through the Bangkok Declaration. 
• The main objective of BIMSTEC is technological and economic cooperation among South Asian and Southeast Asian countries along the coast of the Bay of Bengal.
• It promotes active collaboration and mutual assistance in economic, social, technical and scientific fields of common interest.

Expected Questions

Question 1. When was BIMSTEC Established?
6th June 1997

Question 2. What is the venue of BIMSTEC Summit 2018?
Nepal

Question 3. Who is the PM of Nepal?
KP Sharma Oli

Question 4. What does SAARC stand for?
SOUTH Asian Association for Regional Cooperation

Question 5. BIMSTEC comprises how many member nations?
7