BIMSTEC’s charter passed by Nepal’s Parliament, paving the way for implementation after three decades. Loktej World News

BIMSTEC’s charter passed by Nepal’s Parliament, paving the way for implementation after three decades.  Loktej World News

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Kathmandu, 03 April (HS). BIMSTEC’s charter for multi-sector technical and economic cooperation has received approval from the Parliament of Nepal. BIMSTEC stands for Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation. With this, the way has been cleared for its implementation after three decades.

This regional organization was established in 1997 under the Bangkok Declaration. Initially it had only four members Bangladesh, India, Sri Lanka and Thailand. In November 2016, Burma, Bhutan and Nepal also joined it as members. In the BIMSTEC summit held in Kathmandu in 2018, the decision was taken to pass its charter and get approval from the parliaments of all the member countries. Apart from Nepal, the rest of the member countries had already passed the approval from their parliament.

Till now the membership had not been approved by the Parliament of Nepal, but now with the approval from the Parliament, the way has been opened for its formal implementation. Nepal’s Foreign Minister Narayankaji Shrestha said that after approval from the Parliament of Nepal, its information will be given to the Secretariat of BIMSTEC in Bangladesh, after which it will be formally implemented after 30 days.

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