TNPSC Current Affairs April 2017
BIMSTEC is a Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation(BIMSTEC) comprising Bhutan, Bangladesh, India, Nepal, Sri Lanka, Myanmar and Thailand. It was Established on 1997 and its headquarters is at Dhaka, Bangladesh.
Cabinet approves MoU for establishment of BIMSTEC Grid Interconnection
The Union Cabinet has approved the proposal for signing of MoU (Memorandum of Understanding) for establishment of the BIMSTEC Grid Interconnection. The proposal will be signed among the member of BIMSTEC at the 3rd BIMSTEC Energy Ministers meeting to be held in Nepal.
About MoU.(source_PIB)
- It will provide a broad framework for the Parties to cooperate towards the implementation of grid interconnections for the trade in electricity with a view to promoting rational and optimal power transmission in the BIMSTEC region.
- the optimization of using the energy resources in the region for mutual benefits on non-discriminatory basis subject to laws, rules and regulations of the respective Parties;
- the promotion of efficient, economic, and secure operation of power system needed through the development of regional electricity networks;
- the necessity of optimization of capital investment for generation capacity addition across the region; and power exchange through cross border interconnections.
About BIMSTEC:
BIMSTEC is a Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation(BIMSTEC) comprising Bhutan, Bangladesh, India, Nepal, Sri Lanka, Myanmar and Thailand. It was Established on 1997 and its headquarters is at Dhaka, Bangladesh.
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