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On 6 June 1997, a new sub-regional grouping was formed in Bangkok under the name BIST-EC (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation). [12] [13] Following the inclusion of Myanmar on 22 December 1997 during a special Ministerial Meeting in Bangkok, the Group was renamed 'BIMST-EC' (Bangladesh, India, Myanmar, Sri Lanka and Thailand Economic Cooperation).
In Sri Lanka, several strands of hair gifted by the Buddhists of Bangladesh, identified as originated from Buddha, are venerated on Poya Day, a Buddhist public holiday in Sri Lanka. [2] During the Bangladesh Liberation War, Sri Lanka saw the partition of Pakistan as an example for themselves and feared India might use its enhanced power against ...
In the ending years of the 1970s, the seven inner South Asian nations that included Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan, and Sri Lanka, agreed upon the creation of a trade bloc and to provide a platform for the people of South Asia to work together in a spirit of friendship, trust, and understanding.
The agreement was signed in 2004 and came into effect on 1 January 2006, with the desire of the member states of the SAARC (Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka) to promote and sustain mutual trade and economic cooperation within the SAARC region through the exchange of concessions.
About 17 million of Sri Lanka's 22 million people are eligible to vote in the first election since protests against the economic hardships in 2022 forced then president Gotabaya Rajapaksa to flee ...
The economy of Bangladesh faces serious challenges, not least persistently high inflation and heavy foreign debt, which has doubled since 2016. The economic mismanagement of the previous regime ...
Services accounted for 58.2% of Sri Lanka's economy in 2019 up from 54.6% in 2010, industry 27.4% up from 26.4% a decade earlier and agriculture 7.4%. [41] Though there is a competitive export agricultural sector, technological advances have been slow to enter the protected domestic sector. [42]
The economy of Bangladesh is a major developing mixed economy. [121] As the second-largest economy in South Asia, [122] [123] Bangladesh's economy is the 35th largest in the world in nominal terms, and 25th largest by purchasing power parity. Bangladesh is seen by various financial institutions as one of the Next Eleven.