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Foreign Policy Watch: India-ASEAN

Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC)

IOCRPrelims Only | International Relations | Mains Paper 2: Bilateral, Regional and Global Groupings and agreements involving India

Why in the News?

Delegates recently represented India at the 24th BIMSTEC Senior Officials’ Meeting (SOM) virtually hosted by Thailand.

Key highlights of 24th BIMSTEC Senior Officials’ Meeting

  • The discussions focused on priority areas including sustainable development, regional connectivity, security, and people-to-people exchanges.
  • Several documents, such as Plans of Action for cooperation, new cooperation mechanisms, and collaboration with external partners, were finalized.
  • The meeting also discussed issues related to the upcoming 6th BIMSTEC Summit.

About BIMSTEC 

  • The BIMSTEC is a regional organization with 7 member states: Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand.
  • Established in 1997, its primary aim is to foster multifaceted technical and economic cooperation among the countries bordering the Bay of Bengal.
  • The region encompasses a population of around 1.5 billion and has a combined GDP of over USD 3.8 trillion.
  • Origin:
    • Founded in 1997 through the Bangkok Declaration, the organization initially included four member nations under the name BIST-EC (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation).
    • Later in 1997, Myanmar joined, prompting a renaming to BIMST-EC.
    • Nepal and Bhutan were admitted in 2004, leading to the current name: Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC).
  • Key Features  
    • Establishes BIMSTEC as a legal entity, enabling it to engage more formally with other international organizations.
    • Outlines objectives focused on building trust and friendly relations among member states and promoting economic development and social progress in the Bay of Bengal region.
    • Defines a clear framework for regular meetings at various levels: the Summit, Ministerial, and Senior Officials’ levels.
    • Allows for the possibility of new members and observer states, ensuring future growth and broader cooperation.
    • Streamlines cooperation into 7 sectors, each led by one member state:
      • Bangladesh: Trade, investment, and development
      • Bhutan: Environment and climate change
      • India: Security (including energy)
      • Myanmar: Agriculture and food security
      • Nepal: People-to-people contacts
      • Sri Lanka: Science, technology, and innovation
      • Thailand: Connectivity

Significance of BIMSTEC for Indo-Pacific Goals  

  • Maritime Connectivity: BIMSTEC unites Bay of Bengal states, strengthening maritime ties that are crucial for an open and inclusive Indo-Pacific.
  • Regional Bridge: It links South Asia and Southeast Asia, aligning closely with India’s “Act East” policy and fostering broader Indo-Pacific integration.
  • Security Cooperation: Focus on collaborative efforts in maritime security (e.g., counter-piracy, disaster management) supports a stable and secure Indo-Pacific.
  • Economic Integration: By promoting trade, investment, and infrastructure development, BIMSTEC bolsters economic growth and connectivity in the Indo-Pacific region.
  • Synergy with Other Frameworks: Its emphasis on connectivity, security, and economic cooperation complements initiatives such as ASEAN and the Indian Ocean Rim Association, collectively advancing Indo-Pacific objectives.

PYQ:

[2022] Do you think that BIMSTEC is a parallel organisation like the SAARC? What are the similarities and dissimilarities between the two? How are Indian foreign policy objectives realized by forming this new organisation?

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