As India prepares for the 6th Summit of Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), its role in fostering connectivity and addressing shared challenges in the Bay of Bengal region is under scrutiny. Here, we have discussed about BIMSTEC Summit and India’s Role in it.
About the BIMSTEC
(A) It is a regional organization that enhances economic and technical collaboration among countries in the region of Bay of Bengal.
(B) The Bangkok Declaration (1997) formally laid the foundation for the organization, as BIST-EC(Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation).
(C) Myanmar joined later that year, and Nepal and Bhutan became members in 2004, finalizing the present-day BIMSTEC. Since then, BIMSTEC has expanded its focus to include connectivity, counterterrorism, technology, trade, security, and people-to-people ties.
Earlier BIMSTEC Summits
- 1st BIMSTEC Summit, 2004 (Bangkok, Thailand) (a) Strengthening economic cooperation among member countries. (b) Adoption of the Bangkok Declaration formalizing BIMSTEC as a regional group.
- 2nd BIMSTEC Summit, 2008 (New Delhi, India) Energy, transport, and trade connectivity. (a) Agreement to establish the BIMSTEC Free Trade Area (FTA). (b) India proposed a regional energy grid for better power-sharing.
- 3rd BIMSTEC Summit, 2014 (Nay Pyi Taw, Myanmar) (a) Strengthening security and regional connectivity. (b) Endorsement of the BIMSTEC Convention on Counter-Terrorism. (c) Formation of an expert group on energy cooperation.
- 4th BIMSTEC Summit, 2018 (Kathmandu, Nepal) (a) Strengthening institutional mechanisms and transport linkages. (b) Adoption of the BIMSTEC Charter (to institutionalize the organization). (c) Proposal for a BIMSTEC Development Fund.
- 5th BIMSTEC Summit, 2022 (Colombo, Sri Lanka) (a) Post-pandemic economic recovery and security cooperation.
Significance of BIMSTEC
Boost Trade and Investment: Facilitate intra-regional trade and economic collaboration.
Enhance Connectivity: Develop infrastructure, transport, and digital connectivity.
Strengthen Regional Security: Cooperate on counterterrorism, cybersecurity, and transnational crime.
Sustainable Development: Address climate change, disaster management, and sustainable energy.
People-to-People Exchanges: Promote cultural ties, tourism, and educational collaboration.
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Importance of BIMSTEC for India
- Strategic Connectivity: (a) Enhances Northeast India’s linkages with Southeast Asia. (b) Act East’ Policy: India plays a leading role in BIMSTEC as the largest economy in the bloc. BIMSTEC aligns with India’s ‘Act East’ policy, strengthening ties with Southeast Asian nations. (c) India is actively involved in BIMSTEC-led projects such as the BBIN (Bangladesh, Bhutan, India, Nepal) Motor Vehicle Agreement, trilateral highways, and port connectivity programs.
- Economic Growth: Expands markets for Indian businesses.
- Energy Security: Facilitates regional power trade and renewable energy projects.
- Geopolitical Influence: Strengthens India’s presence in the Indo-Pacific region.
- Alternative to SAARC: Overcomes challenges posed by Pakistan in the South Asian Association for Regional Cooperation (SAARC) by focusing on like-minded nations.
Major Initiatives
- BIMSTEC Free Trade Agreement (FTA): (a) The long-pending BIMSTEC FTA aims to boost intra-regional trade.
- BIMSTEC Transport Connectivity Master Plan: (a) India has proposed multi-modal transport networks linking ports, roads, railways, as well as air routes. (b) The Kaladan Multi-Modal Transit Transport Project (India-Myanmar) and the Trilateral Highway (India-Myanmar-Thailand) are part of this initiative.
- BIMSTEC Energy Grid: (a) Plans for a regional electricity grid to facilitate cross-border energy trade. (b) India and Myanmar are leading efforts in renewable energy and power sharing.
- BIMSTEC Security Cooperation: (a) The BIMSTEC Convention on Counter-Terrorism and Transnational Crime aims to strengthen security collaboration. (b) India and Thailand are leading cybersecurity and maritime security initiatives.
- BIMSTEC Disaster Management Mechanism: (a) Regional response frameworks for natural disasters, climate change adaptation, as well as humanitarian assistance.
Challenges Facing BIMSTEC
- Slow Progress on Agreements: The FTA, as well as key connectivity projects, have seen delays.
- Institutional Weaknesses: BIMSTEC lacks a permanent secretariat with sufficient funding and staffing.
- Unequal Member Commitments: Some member nations prioritize ASEAN or SAARC over BIMSTEC.
- China’s Growing Influence: Chinese investments in Myanmar, Bangladesh, and Thailand indeed pose strategic challenges for India.
- Geopolitical Issues: Border tensions (e.g., India-Myanmar) and internal instability (Myanmar’s political crisis) affect cooperation.
Way Forward
(a) Accelerating FTA negotiations to enhance regional trade.
(b) Boosting connectivity projects for better economic integration.
(c) Strengthening of the institution by establishing a fully operational BIMSTEC Secretariat
(d) Enhancing security cooperation on terrorism, cyber threats, and transnational crimes.
(e) Investment in the sector of infrastructure and digital trade is essential.
(f) India, as the regional leader, must prioritize BIMSTEC in its foreign policy by investing in capacity-building, trade facilitation, and technological collaboration.
Conclusion
To bridge the gap between South Asia and Southeast Asia, BIMSTEC has great potential as a regional economic as well as strategic bloc. With India’s leadership and enhanced cooperation among members, eventually, BIMSTEC can emerge as a key driver of regional growth, connectivity, and security. However, it requires stronger political will, infrastructure development, and institutional reforms to achieve its full potential. If implemented effectively, BIMSTEC could redefine regional diplomacy and economic partnerships in the Bay of Bengal region.