BIMSTEC
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional organization comprising seven Member States lying in the littoral and adjacent areas of the Bay of Bengal constituting a contiguous regional unity. This sub-regional organization came into being on 6 June 1997 through the Bangkok Declaration. It constitutes seven Member States: five deriving from South Asia, including Bangladesh, Bhutan, India, Nepal, Sri Lanka, and two from Southeast Asia, including Myanmar and Thailand. Initially, the economic bloc was formed with four Member States with the acronym ‘BIST-EC’ (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation). Following the inclusion of Myanmar on 22 December 1997 during a special Ministerial Meeting in Bangkok, the Group was renamed ‘BIMST-EC’ (Bangladesh, India, Myanmar, Sri Lanka, and Thailand Economic Cooperation). With the admission of Nepal and Bhutan at the 6th Ministerial Meeting (February 2004, Thailand), the name of the grouping was changed to ‘Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation’ (BIMSTEC).
Objective of BIMSTEC
BIMSTEC was established to develop technological and economic cooperation in the Southeast Asian countries along the coast of the Bay of Bengal. It also establishes a relationship between SAARC and SEAN members.
FUNCTIONING OF BIMSTEC
BIMSTEC organizes inter-governmental interactions through Summits, Ministerial Meetings, Senior Officials Meetings, and Expert Group Meetings and through BIMSTEC Working Group (BWG) based in Bangkok. There have been four BIMSTEC Summit meetings. Srilanka is hosting the 5th BIMSTEC Summit in Colombo.
BIMSTEC Chairmanship rotates among member countries alphabetically.
Heads of the member nations
What are expected to be the big takeaways from this summit?
Connectivity and security cooperation are expected to top the list of the regional grouping. India considers connectivity to be an important aspect of the cooperation of the grouping including physical connectivity, grid connectivity, and increasing the people to people contacts. The grouping is expected to agree to several measures including a protocol for coastal shipping agreements that could also give sea access to two landlocked countries, Nepal and Bhutan. Security cooperation to deal with traditional and non-traditional threats would also be a key focus area at the summit.
That's why our PM has referred BIMSTEC as a natural platform for fulfilling our key foreign policy priorities of ‘Neighborhood First’ and ‘Act East, as it connects not only South and Southeast Asia but also the ecologies of the Great Himalayas and the Bay of Bengal.
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Jai Hind …
