Prime Minister KP Sharma Oli on Tuesday apprised the Parliament about the 4th Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) summit going to be held in Kathmandu on August 30 and 31.

While addressing the Parliament this afternoon, PM Oli informed the lawmakers about the preparations and importance of the BIMSTEC.

He said that this is the first regional-level summit organised by the new government after the promulgation of the new constitution and conduction of three-tier of elections. “We started preparations for the BIMSTEC after the formation of new government,” he added.

Saying that the summit is taking place under the theme of ‘Towards Peaceful, Prosperous and Sustainable bay of Bengal Region, PM Oli expressed his hope that this summit will expand economic cooperation and connectivity (railways, transportation, energy and airways) and contruction of Buddhist circuit.

“Though BIMSTEC should be in held every two years, we are holding the BIMSTEC for the fourth time albeit it has been 20 years since BIMSTEC was established,” the Prime Minister said.

Though BIMSTEC has 14 priority sectors, this summit has integrated two more priority sectors—Blue Economy and Mountain Economy, he said.

PM Oli, who is also the Co-Chair of newly formed Nepal Communist party (NCP), said that the issues related to trade, connectivity, environment and campaign against organised crime will be discussed in the summit.

He said that BIMSTEC charter will also be formulated in this conference.

Moreover, the Prime Minister said that the bilateral relationship between Nepal and India will also be strengthened further after the summit. He said that the relationships with other countries will also be strengthened.

He said that the heads of the government or state of all BIMSTEC member countries will hold a meeting with Nepali President Bidya Devi Bhandari.

PM Oli expressed his hope that this summit would help the government of Nepal to coordinate and cooperate with member countries to eliminate poverty.

On the occasion, he also informed Parliament what his government has achieved in six months.

The first BIMSTEC was held in Thailand in 1997, followed by India in 2008, Myanmar in 201^4.