The first BIMSTEC Business Summit 2024

Current Context: The first BIMSTEC Business Summit took place in New Delhi from August 6-8, 2024. The theme of the first BIMSTEC Business Summit was “Reinvigorating BIMSTEC: Strengthening Economic Cooperation for a Resilient Future”.

• Organized by the Ministry of External Affairs of India in collaboration with the Confederation of Indian Industries (CII), the summit aimed to enhance regional collaboration through trade and investment among the member countries of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC).
• The event was inaugurated by External Affairs Minister Dr. S. Jaishankar, with key addresses from Commerce and Industry Minister Shri Piyush Goyal and other leaders.
• Over 300 stakeholders, including ministers, policymakers, entrepreneurs, and industry associations from BIMSTEC member states, participated to discuss key areas such as trade facilitation, regional connectivity, energy security, inclusive growth, and sustainable development.

Question:

1 What was the theme of the first BIMSTEC Business Summit?

• A) Strengthening Regional Ties for Economic Growth
• B) Reinvigorating BIMSTEC: Strengthening Economic Cooperation for a Resilient Future
• C) Enhancing Trade and Investment in the Bay of Bengal Region
• D) Promoting Sustainable Development in BIMSTEC Countries

Answer: B) The theme of the first BIMSTEC Business Summit was “Reinvigorating BIMSTEC: Strengthening Economic Cooperation for a Resilient Future”.