What is BIMSTEC?
- BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) is a regional multilateral organization that connects South Asia and Southeast Asia.
- Established through the Bangkok Declaration in 1997, it promotes economic and social progress in the region.
- Member Countries
- South Asia: Bangladesh, Bhutan, India, Nepal, Sri Lanka.
- Southeast Asia: Myanmar, Thailand.
Evolution of BIMSTEC
- Initially formed as ‘BIST-EC’ (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation).
- Renamed ‘BIMST-EC’ after Myanmar joined in 1997.
- In 2004, Nepal and Bhutan joined, leading to the current name,
Key Features
- Bridges South and Southeast Asia, linking the Himalayan region with the Bay of Bengal.
- Focuses on economic growth, trade, technology, energy, security, and connectivity.
- Acts as an alternative to SAARC for regional cooperation.
India’s role in BIMSTEC
- Leading initiatives in trade, security, maritime cooperation, and climate action.
- Key proponent of BIMSTEC Free Trade Agreement to enhance regional trade integration.
- Advocates for stronger physical and digital connectivity between BIMSTEC nations.
India’s Strategic Vision in BIMSTEC
- Neighbourhood First Policy: Prioritising economic and security ties with South Asian neighbors.
- Act East Policy: Strengthening engagements with ASEAN and Southeast Asia.
- MAHASAGAR Vision: Enhancing India’s role in global maritime security and economic growth.
- This visit marks India’s continued commitment to its ‘Neighbourhood First’ and ‘Act East’ policies, as well as its MAHASAGAR Vision (Mutual and Holistic Advancement for Security and Growth Across Regions).
