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
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From UPSC perspective, the following things are important :

Prelims level: BIMSTEC

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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