BIMSTEC BUSINESS CONCLAVE

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), comprising seven (7) nations adjacent to the Bay of Bengal region (Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand).

Purpose of BIMSTEC

• To create and implement targeted cooperation initiatives in the areas of cooperation that have already been agreed upon as well as any additional areas that the Member States may decide upon in order to foster an environment that is conducive to rapid economic development. The areas of cooperation may be reviewed by Member States on a regular basis.
• To Enhance social and economic development in the Bay of Bengal region via collaborative efforts conducted in a spirit of equality and partnership.
• To more effectively collaborate in projects that support and complement the national development strategies of the Member States and raise real living conditions for the populace, particularly by creating jobs and enhancing infrastructure for transportation and communication.
•  To promote trade and investment as key drivers of the region's economic and social development

"BIMSTEC TEA FORUM : Revamping the Value Chain for Boosting Exports"



India's tea exports are expected to grow by more than 95 per cent despite various geo-political, geo-economical and logistical challenges during 2023. India's tea exports in the international markets confirm a concrete position and liking due to its exceptional quality and trade promises. India one of the largest tea producer and largest black tea producer with production at around 1400 million kg and is meeting domestic requirements and export obligations. Indian market is the largest consumer of black tea and consumes around 18-20 per cent of the total world tea consumption. Indian teas are exported to various destinations like China, Kenya, Turkey, Srilanka,Vietnam,Indonesia,etc and now a thrust is required to be given to BIMSTEC countries(Myanmar,Nepal,Bangladesh,Bhutan,Srilanka,Thiland) for improving TEA TRADE activities. India being the fourth largest tea exporter may still explore improving tea trade relationships between BIMSTEC countries. At present Indian tea Industry employs around 1.18 million workers directly-indirectly. India as a whole contributes around 20-23 per cent to the global tea production.

Tea is an exotic product grown in the BIMSTEC region. Northeast India and West Bengal, the primary tea producing regions in India have high potential for increasing trade with BIMSTEC member nations. Sri Lanka is famous for its Ceylon tea. Countries like Nepal and Bhutan are known for their exotic herbal teas. Both Thailand and Myanmar grow their own varieties of tea. With the global tea market size slated to reach US$ 31.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028, there is unmatched scope for increasing intra-regional cooperation in tea trade in BIMSTEC. 

Patrons may click on the below link to experience BIMSTEC journey attend all 3 days - BIMSTEC BUSINESS CONCLAVE

* Registration for this Sessions entitles you Free Access to other Sessions on same day.

** Access to other Sessions is subject to seating availability.

Fee is 750/- plus GST per Session.