- Established: 1997 through the Bangkok Declaration.
- BIMSTEC Secretariat: Dhaka, Bangladesh
- Objectives of BIMSTEC
- 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 each other in the fields of education, science, and technology, etc.
- Important Connectivity Projects
- Kaladan Multimodal Project connecting India and Myanmar.
- Asian Trilateral Highway connecting India and Thailand through Myanmar.
- Bangladesh-Bhutan-India-Nepal (BBIN) Motor Vehicles Agreement
- Significance of BIMSTEC
- 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.
Indian International Policy Associated with BIMSTEC
- Neighborhood First Policy – Primacy to the country’s immediate periphery;
- Act East Policy – connect India with Southeast Asia
- Significance
- Economic and Regional Integration: BIMSTEC connects South Asia and Southeast Asia, facilitating regional trade, investment, and economic growth through multi-sectoral cooperation in areas like energy, transportation, and technology.
- Security Cooperation: It has become increasingly important for enhancing maritime security and counterterrorism efforts in the Bay of Bengal region, an area crucial for India’s strategic interests.