Solution

It was established in 6 June 1997. The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional multilateral organisation. BIMSTEC not only connects South and Southeast Asia, but also the ecologies of the Great Himalayas and the Bay of Bengal. It mainly aims to create an enabling environment for rapid economic development; accelerate social progress; and promote collaboration on matters of common interest in the region. Initially, it was formed with four Member States with the acronym ‘BIST-EC’ (Bangladesh, India, Sri-Lanka and Thailand Economic Cooperation). It was renamed ‘BIMST-EC’ in 1997, following the inclusion of Myanmar. With the admission of Nepal and Bhutan in 2004, the name of the grouping was changed to ‘Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation’ (BIMSTEC).