All about BIMSTEC

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a seven-member international organisation of South Asian and Southeast Asian nations. BIMSTEC houses 1.73 billion people and it has a combined gross domestic product of US$4.4 trillion (2022).

Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) will be helpful for UPSC IAS Exam preparation. GS Paper-2 International Relations.

Table of Content

• What is BIMSTEC?
• Genesis of BIMSTEC
• Objectives of BIMSTEC
• Principles of BIMSTEC
• Institutional Mechanisms of BIMSTEC
• Summits of BIMSTEC
• Significance of BIMSTEC for India
• Key Areas of Cooperation within BIMSTEC
• Key Challenges Associated with BIMSTEC
• Conclusion
• Frequently Asked Questions (FAQs)

What is BIMSTEC?

• The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional organization.
• BIMSTEC comprises 7 members countries, divided into two regions:
  • South Asia: Bangladesh, Bhutan, India, Nepal, and Sri Lanka.
  • Southeast Asia: Myanmar, and Thailand.
• It serves as a bridge between South and Southeast Asia, connecting the Great Himalayas and the Bay of Bengal.
• Primary goal: to facilitate rapid economic development, promote social progress, and encourage collaboration on shared interests in the region.

Genesis of BIMSTEC

• The organization was established in 1997 through the Bangkok Declaration.
• Initially its name was BIST-EC (Bangladesh, India, Sri-Lanka, and Thailand Economic Cooperation).
• 1997: It was renamed BIMST-EC after Myanmar’s inclusion.
• 2004: It became known as the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) with the admission of Nepal and Bhutan.

Objectives of BIMSTEC

• Accelerating economic growth and social progress through joint efforts in the Bay of Bengal region, with equality and partnership as guiding principles.
• Promoting active collaboration and mutual assistance across the economic, social, technical, and scientific fields.
• Providing assistance in education, training, and research to support each other’s development in professional and technical spheres.
• Cooperating effectively in supportive and complementary projects aligned with national development plans, focusing on tangible benefits such as improved living standards, employment, and transportation infrastructure.
• Collaborating regionally on projects that maximize available synergies and address common challenges, while maintaining peace, stability, and resilience against international terrorism, organized crime, natural disasters, climate change, and communicable diseases.
• Engaging with existing international and regional organizations that share similar aims and purposes to foster beneficial cooperation.
• Striving to eliminate poverty from the Bay of Bengal region through collective efforts.
• Establishing multidimensional connectivity and synergies among connectivity frameworks, facilitating economic integration and shared prosperity.
• Promoting trade and investment as drivers of economic and social development.

Principles of BIMSTEC

• Cooperation in BIMSTEC will be guided by principles such as:
  • Respect for sovereign equality
  • Upholding territorial integrity
  • Ensuring political independence
  • Non-interference in internal affairs
  • Non-aggression
  • Peaceful co-existence
  • Mutual respect
  • Mutual benefit
• BIMSTEC cooperation will complement, rather than replace, existing forms of bilateral, sub-regional, regional, or multilateral cooperation among its Member States.

Institutional Mechanisms of BIMSTEC

• The Summit includes the Heads of State or Government of the Member States.
• The Ministerial Meeting involves the Ministers responsible for foreign relations from the Member States.
• The Sectoral Ministerial Meetings include the Ministers from relevant line ministries responsible for specific sectors.
• The Senior Officials’ Meeting consists of Foreign Secretaries, Secretaries, or other Senior officials appointed by the BIMSTEC Member States.
• The BIMSTEC Permanent Working Committee (BPCW) is composed of senior officials representing the National Focal Points of each respective country.

Summits of BIMSTEC

No.	Date	Host country	Host city
1st	31-Jul-04	Thailand	Bangkok
2nd	13-Nov-08	India	New Delhi
3rd	04-Mar-14	Myanmar	Naypyidaw
4th	30–31 August 2018	Nepal	Kathmandu
5th	30-Mar-22	Sri Lanka	Colombo (Virtual meeting)

Significance of BIMSTEC for India

• Major Shipping Route: The Bay of Bengal sees a global trade of one-fourth of the world’s traded goods crossing it annually.
• Huge Market: BIMSTEC is home to approximately 1.5 billion people. It accounts for around 22% of the global population.
• High Growth Potential: BIMSTEC member states have a combined GDP of 3.8 trillion economies. They have sustained an average 6.5% economic growth trajectory.
• India’s Core Policies: BIMSTEC allows India to pursue three core policies: Neighborhood First, Act East, and economic development of its northeastern states.
• China Factor: BIMSTEC enables India to counter China’s influence in the Bay of Bengal region through its Belt and Road Initiative.
• Alternative to SAARC: BIMSTEC provides a new platform for India to engage with its neighbours as SAARC faces difficulties between India and Pakistan.

Key Areas of Cooperation within BIMSTEC

• Trade, Investment, And Development
• Environment & Climate Change
• Security
• Agriculture And Food Security
• People-to-people Contact
• Science, Technology & Innovation
• Connectivity

Key Challenges Associated with BIMSTEC

• Connectivity: There exists a significant potential for improving physical, digital, and people-to-people connectivity within the sub-region.
  • There are vast energy resources to be tapped and ample opportunities for intra-regional trade and investment.
• Limited Progress: Despite minimal bilateral tensions compared to SAARC, BIMSTEC has not made considerable advancements.
• Factors Affecting Progress: The sluggishness observed in BIMSTEC over the past two decades can be attributed to various factors.
• Criticism towards India: India, as the largest member of the group. India has faced criticism for not providing strong leadership to BIMSTEC.
• Criticism towards Thailand and Myanmar: They have been criticized for prioritizing ASEAN over BIMSTEC.
• Timing of Formation: BIMSTEC was established during a period when ASEAN countries were grappling with a severe financial crisis in 1997-98.
  • Thailand and Myanmar were experiencing political turmoil in the subsequent decade.
• Institutional Factors: The absence of a permanent secretariat for an extended period.
  • Lack of commitment to investing in several identified priority areas has hindered BIMSTEC’s progress.
• Regionalism Impact: The “noodle bowl effect” of regionalism has further complicated matters, as the creation of another sub-regional initiative, the Bangladesh-China-India-Myanmar (BCIM) Forum, with proactive membership from China.
  • Ithas raised doubts about the exclusive potential of BIMSTEC.

Conclusion

The Kathmandu Declaration adopted at the BIMSTEC summit in 2018 highlights the importance of multidimensional connectivity, trade, investment, poverty alleviation, and combating terrorism. Efforts should be made to overcome obstacles and foster constructive approaches to cooperation within the organization. The BIMSTEC has the advantage of shared objectives among member countries and the potential to leverage strengths from two regions

Ref: Source-1

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FAQs (Frequently Asked Questions)