What are the key focus areas for BIMSTEC in the next decade

Elucidate the key focus areas of Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), and discuss the significance of adoption of Bangkok Vision 2030.
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) aims to promote regional cooperation in various areas, such as trade, investment, transport, energy, and tourism. The adoption of the Bangkok Vision 2030 outlines the key focus areas for BIMSTEC in the next decade. Some of the significant areas are:
  • Promotion of regional connectivity through various means such as trade, investment, and people-to-people contacts
  • Improvement of regional trade by strengthening the free trade agreement and creating a more conducive business environment
  • Enhancement of regional transportation by developing and improving infrastructure for efficient transport and logistics
  • Promotion of regional tourism by creating harmonized policies, enhancing tourism infrastructure and developing cultural and heritage sites
  • Collaboration in the area of energy, including renewable energy, and disaster management
The adoption of Bangkok Vision 2030 is significant as it provides a comprehensive roadmap for BIMSTEC's future activities and promotes regional integration, peace, and prosperity. It emphasizes the need for sustained efforts towards economic development and connectivity within the region. By focusing on these key areas, BIMSTEC can contribute to the economic growth and development of member countries and the region as a whole.
Answered a year ago
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