India is preparing to host the first-ever BIMSTEC Business Summit in New Delhi from August 6-8, marking a significant step towards fostering greater regional collaboration in the Bay of Bengal region. The Ministry of External Affairs, in partnership with the Confederation of Indian Industries (CII), will organize this three-day event.

External Affairs Minister S Jaishankar will inaugurate the summit, with Union Minister of Commerce and Industries Piyush Goyal and other leaders scheduled to deliver keynote addresses.

The event is expected to draw a diverse array of participants, including ministers from BIMSTEC member states responsible for trade, commerce, industry, and energy, along with high-ranking government officials, policymakers, entrepreneurs, and industry associations.

In the press release, the MEA stated, “The first edition of the Business Summit aims to foster greater regional collaboration through robust trade and investment relations among the member countries of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC).”

The event will bring together over 300 key stakeholders from across the Bay of Bengal region to facilitate economic collaboration and explore ways ahead in focus areas like trade facilitation, regional connectivity, energy security, inclusive growth and sustainable development.

The MEA emphasized India’s commitment to BIMSTEC, which connects five South Asian countries (Bangladesh, Bhutan, Nepal, India, and Sri Lanka) with two Southeast Asian nations (Myanmar and Thailand).

This summit follows the 4th Annual Meeting of BIMSTEC Security Chiefs held in Myanmar’s capital, Naypyitaw, in July, where National Security Advisor Ajit Doval led the Indian delegation.

(Inputs from ANI)