The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), It is a worldwide association. It consists of seven countries of South Asia and South East Asia, lodging 1.5 billion individuals and having a joined GDP of $2.5 trillion (2014). This sub-local association appeared on 6 June 1997 through the Bangkok Declaration. At first, the monetary coalition was shaped with four Member States with the acronym ‘BIST-EC’ (Bangladesh, India, Sri Lanka and Thailand Economic Cooperation). The provincial gathering constitutes an extension amongst South and South East Asia and speaks to a support of relations among these nations. BIMSTEC has likewise settled a stage for intra-territorial collaboration amongst SAARC and ASEAN individuals.
The goal of building such an organization together was to bridle shared and quickened development through shared collaboration in various territories of normal interests by moderating the surge of globalization and by using local assets and land favorable circumstances. Dissimilar to numerous other local groupings, BIMSTEC is a division driven agreeable association. Beginning with six areas—including exchange, innovation, vitality, transport, tourism, and fisheries—for sectoral participation in the late 1997, it extended to grasp nine more segments—including horticulture, general wellbeing, destitution mitigation, counter-psychological warfare, condition, culture, individuals to individuals contact and environmental change—in 2008.