BIMSTEC Latest News
The Indian Prime Minister will visit Bangkok, Thailand, from April 3-4, 2025, to participate in the 6th BIMSTEC Summit and hold discussions with the Thai PM.
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.
- 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.
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: BIMSTEC.
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).
BIMSTEC FAQs
Q1. What is BIMSTEC?
Ans. BIMSTEC is a regional organisation comprising Bangladesh, India, Myanmar, Sri Lanka, Thailand, Nepal, and Bhutan, aimed at economic and technical cooperation.
Q2. When was BIMSTEC established?
Ans. BIMSTEC was established on June 6, 1997, through the Bangkok Declaration.
Q3. What are the key sectors of BIMSTEC cooperation?
Ans. BIMSTEC focuses on 14 key sectors, including trade, connectivity, energy, counterterrorism, climate change, and technology.
Q4. Where is the BIMSTEC Secretariat located?
Ans. The BIMSTEC Secretariat is headquartered in Dhaka, Bangladesh.
Source: IE
Last updated on Dec 26, 2024
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