Why in the news?

  • Kochi hosted the first BIMSTEC-India Marine Research Network (BIMReN) Conference to boost blue economy cooperation.

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

  • What is it?: It is a regional organisation that connects South Asia and Southeast Asia, focusing on the Bay of Bengal littoral and adjacent states.
  • Formation: Established in 1997 through the Bangkok Declaration.
  • Secretariat: Established in Dhaka (2014).

  • Objectives
    • Creating an enabling environment for the rapid economic development of the sub-region.
    • Encouraging the spirit of equality and partnership.
    • Promoting active collaboration and mutual assistance in the areas of common interests of the member countries
    • Accelerating support for one another in the fields of education, science, and technology, among others.
  • Significance of BIMSTEC in the Region
    • The BIMSTEC region is home to around 1.5 billion people
    • Constitute around 22% of the global population
    • Combined Gross Domestic Product (GDP) of 2.7 trillion economy.
    • It acts as a bridge between South Asia and Southeast Asia.
  • Major Projects
    • Kaladan Multimodal Project: Links India and Myanmar.
    • Asian Trilateral Highway: Connecting India and Thailand through Myanmar.
    • Bangladesh-Bhutan-India-Nepal (BBIN) Motor Vehicles Agreement.

India in BIMSTEC

  • Role
    • Founding member and major driving force.
    • Leads areas like counter-terrorism, environment, and climate change.
    • Integrates Neighbourhood First, Act East, and SAGAR policies.
  • Significance of BIMSTEC for India
    • Geostrategic
      • Connects South Asia with ASEAN and the Indo-Pacific region.
      • Strengthens India’s presence in the Bay of Bengal, key for maritime security.
      • An alternative to the stalled SAARC.
      • It counters China’s influence through regional partnerships.
    • Economic 
      • Promotes the BIMSTEC Free Trade Agreement (FTA).
      • Supports connectivity projects like the Kaladan Multimodal Project and the India-Myanmar-Thailand Highway.
      • Enhances the Blue Economy and trade routes.
    • Security
      • Cooperation in counter-terrorism, cyber security, and disaster management.
      • Enhances maritime domain awareness and regional security cooperation.
    • Socio-Cultural
      • Boosts tourism, people-to-people ties, and Buddhist circuit development.
      • Promotes sustainable development and poverty alleviation.
  • Challenges
    • Delays in Connectivity Projects: Slow progress in Kaladan Multimodal and India–Myanmar–Thailand Highway weakens India’s regional linkages.
    • Institutional Weakness: BIMSTEC Secretariat lacks resources and enforcement power, limiting effective implementation.
    • Myanmar’s Political Instability: Post-2021 coup crisis hampers India’s land connectivity and security cooperation.
    • Low Intra-Regional Trade: Trade integration remains minimal; FTA negotiations are stalled.
    • Funding and Resource Constraints: Absence of a dedicated development fund; India bears the main financial load.
    • Competing Regional Frameworks: Overlaps with SAARC, ASEAN, and IORA divert attention and dilute outcomes.
    • Perception of India’s Dominance: Smaller members sometimes view India as over-influential, affecting trust and cooperation.

 

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