- Amoghavarsha IAS Broucher
- +91 9916766911 / 8088776736
- info@amoghavarshaiaskas.in
- E-Learning
- Blog
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional organization formed to foster cooperation among countries situated along the Bay of Bengal. With a focus on enhancing technical and economic collaboration, BIMSTEC has grown into a significant forum for multilateral engagement in South Asia and Southeast Asia.
BIMSTEC was established on June 6, 1997 through the Bangkok Declaration. Originally known as BIST-EC (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation), it was later renamed BIMSTEC after Myanmar joined in 1997. In 2004, Nepal and Bhutan also became members, making it a seven-member grouping. BIMSTEC brings together five South Asian countries—Bangladesh, Bhutan, India, Nepal, and Sri Lanka—and two Southeast Asian countries—Myanmar and Thailand.
BIMSTEC represents a unique interregional organization that bridges South Asia and Southeast Asia, covering a population of around 1.5 billion people and a combined GDP of over $4 trillion.
The primary objectives of BIMSTEC are:
Promote Economic Cooperation:
Enhancing trade and investment opportunities within the region.
Foster Technological and Social Progress:
Sharing knowledge and technology for mutual benefit in fields like agriculture, tourism, energy, and public health.
Strengthen Connectivity:
Improving physical and digital infrastructure to promote connectivity between South and Southeast Asia.
Address Common Challenges:
Tackling issues like climate change, natural disasters, and regional security threats, including terrorism and organized crime.
Enhance People-to-People Contact:
Promoting cultural and educational exchanges to build stronger relations between member countries.
Strengthen Security Cooperation:
Collaborating on regional security challenges, including maritime security and counter-terrorism efforts.
BIMSTEC has identified 14 priority sectors of cooperation, each led by a specific member country:
These priority sectors reflect BIMSTEC’s focus on practical and sectoral cooperation to achieve sustainable development and economic integration.
Bangkok Declaration (1997):
Established the foundation of BIMSTEC, aiming to create a regional organization that enhances cooperation in key sectors like trade, energy, and connectivity.
First BIMSTEC Summit (2004):
Held in Bangkok, this summit highlighted BIMSTEC’s potential as a bridge between South and Southeast Asia and laid the groundwork for future cooperation.
BIMSTEC Free Trade Area Framework Agreement (2004):
An agreement was signed to establish a Free Trade Area (FTA) among BIMSTEC members, focusing on goods, services, and investment. However, negotiations have been slow.
BIMSTEC Framework Agreement on Transit, Transport, and Infrastructure (2015):
Aimed at improving regional connectivity, this agreement outlines infrastructure development and transit cooperation for better movement of goods and people.
Fourth BIMSTEC Summit (2018):
Held in Kathmandu, this summit renewed the focus on economic integration, connectivity, and counter-terrorism. A BIMSTEC Charter was agreed upon to formalize the grouping and enhance its functioning.
BIMSTEC Charter (2022):
During the Fifth BIMSTEC Summit hosted by Sri Lanka, the BIMSTEC Charter was adopted, giving the organization a more formal structure. It clarified the role of the BIMSTEC Secretariat in Dhaka, Bangladesh, and reaffirmed its commitment to regional cooperation.
India plays a central role in BIMSTEC, and its active participation reflects its strategic interests in both South Asia and Southeast Asia. BIMSTEC aligns with India’s “Neighborhood First” and “Act East” policies, enhancing connectivity and cooperation with its neighbors.
BIMSTEC allows India to strengthen economic ties with its neighbors, especially with smaller countries like Nepal, Bhutan, and Bangladesh, as well as Myanmar and Thailand. The push for the BIMSTEC Free Trade Agreement (FTA) is expected to boost trade among member nations.
India views BIMSTEC as essential for improving connectivity, particularly with the Northeastern states. Projects like the Kaladan Multi-Modal Transit Transport Project and the Trilateral Highway (connecting India, Myanmar, and Thailand) are critical for enhancing India’s trade and physical connectivity with Southeast Asia.
BIMSTEC serves as a platform for India to address transnational threats, such as terrorism, human trafficking, and drug smuggling. India leads the counter-terrorism cooperation initiative within BIMSTEC, focusing on intelligence-sharing, law enforcement cooperation, and capacity-building.
Given the stagnation of the South Asian Association for Regional Cooperation (SAARC) due to political tensions, particularly between India and Pakistan, BIMSTEC has emerged as a more viable platform for regional cooperation. It excludes Pakistan, enabling India to work with its other South Asian neighbors in a more productive manner.
With growing Chinese influence in the Indian Ocean Region (IOR), BIMSTEC is important for India to strengthen maritime cooperation with member countries. The Bay of Bengal is a crucial region for India’s strategic interests, including securing sea lanes of communication and preventing piracy.
Despite its potential, BIMSTEC faces several challenges:
Slow Progress on Agreements:
The BIMSTEC Free Trade Agreement (FTA), signed in 2004, has seen little progress. There is a need for faster negotiations to unlock the full potential of trade integration.
Funding Constraints:
Many BIMSTEC projects are hindered by financial constraints, especially in infrastructure and connectivity sectors.
Lack of Political Commitment:
While BIMSTEC holds regular summits, there has been criticism about the lack of high-level political commitment to turn these discussions into concrete actions.
Geopolitical Tensions:
While BIMSTEC members generally enjoy cordial relations, there are tensions between some members, such as India-Nepal and India-Sri Lanka, which can affect cooperation.
BIMSTEC has a promising future as it continues to focus on economic integration, connectivity, and regional security. The adoption of the BIMSTEC Charter in 2022 is a step towards strengthening the institutional framework of the organization. Key initiatives such as the development of transport corridors, energy cooperation, and disaster management mechanisms are likely to deepen cooperation in the coming years.
BIMSTEC’s significance has grown as it provides a platform for India and its neighbors to work together, particularly at a time when SAARC has been largely inactive. By focusing on practical cooperation, improving connectivity, and fostering economic integration, BIMSTEC has the potential to transform the Bay of Bengal region into a prosperous and secure zone.
BIMSTEC serves as a vital link between South Asia and Southeast Asia, promoting economic cooperation, connectivity, and security among its seven member nations. For India, BIMSTEC is not only important for its geopolitical and economic interests but also serves as an alternative to SAARC. As the organization strengthens its institutional capacity, its role in regional cooperation and development will continue to grow.
For UPSC aspirants, understanding the role, structure, and challenges of BIMSTEC is crucial for topics related to regional organizations, India’s foreign policy, and international relations.
Maximize the benefits of mock tests for IAS and KAS preparation with guidance from Amoghavarsha IAS Academy . For more details, visit https://amoghavarshaiaskas.in/.
Youtube: click here
Amoghavarsha IAS/KAS Academy was founded in 2014 since from their we have been excellence in the field of civil Service examination preparation and state services. The Academy is completely dedicated to provide excellent quality education by experts and bringing innovations etc.
Copyright © 2014 – 2024 Amoghavarsha IAS Academy. All Rights Reserved
Developed & Maintained by BIGGSITE
Amoghavarsha E Magazine
Current Affairs ( Prelims )
UPSC
KPSC