Prime Minister Narendra Modi today congratulated the citizens of the BIMSTEC member countries on the 20th anniversary of the formation of the grouping.
Modi said since its inception in 1997, the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), representing "one-fifth of the humanity", had sought to bring the benefits of development to the citizens of its member countries.
"Today, we have one of the fastest growth rates in any region. We have made considerable progress, although much more needs to be done," a statement from the Ministry of External Affairs quoted Modi as saying.
BIMSTEC is an international organisation involving a group of countries in South Asia and South East Asia.
The member countries of BIMSTEC are India, Bangladesh, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal.
Stating that it represented "a common space for peace and development", Modi said for lndia, BIMSTEC was a natural platform to fulfill its key foreign policy priorities of 'Neighbourhood First' and 'Act East'.
He expressed satisfaction over the implementation of the agenda that the BIMSTEC member countries had agreed upon in Goa in October 2016, to achieve greater connectivity, trade, people-to-people contacts and sustainable use of resources.