The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Summit scheduled for early next week has been postponed.

Thai Prime Minister Paetongtarn Shinawatra decided to postpone the summit on Thursday afternoon, Thailand’s state-owned PBS World reported, quoting a high-level government source.

The Summit was set for September 3-4.

Thailand currently chairs the BIMSTEC, which is a regional organisation that connects South Asia and Southeast Asia. Established in 1997 with the signing of the Bangkok Declaration, it comprises seven members: Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan, and Nepal.

Caretaker Foreign Minister Maris Sagiamsongsa of Thailand on Thursday met with Prime Minister Shinawatra leading to the decision to postpone the 5th BIMSTEC Summit, the media reported.

“Due to technical issues in forming the new Cabinet, the summit has to be postponed,” stated the media citing highly-placed sources.

Prime Minister KP Sharma Oli was scheduled to attend the summit.

However there was sudden political change in Thailand as Thailand's Constitutional Court earlier this month dismissed Prime Minister Srettha Thavisin and ruled he ‘grossly’ violated ethics by appointing a minister who had served jail time. Later, Shinawatra was elected the new prime minister.