Bimstec


Bimstec
   The acronym for "Bangladesh-India-Myanmar-Sri Lanka-Thailand Economic Cooperation," a regional group established in June 1997; Burma became a full member in December of that year. The goals of the group include economic, educational, and technical cooperation, and each member state is given an area of special responsibility (Burma's is the energy sector). In 2004, the group, including new members Nepal and Bhutan, signed an agreement paving the way for a free trade agreement over the next 15 years. Burma's inclusion in the group reflects the State Peace and Development Council's desire to diversify its economic ties, implying its concern not to become economically too dependent on the People's Republic of China.
   See also Association of Southeast Asian Nations and Burma.

Historical Dictionary of Burma (Myanmar). . 2014.

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