BIMSTEC

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economical Cooperation or BIMSTEC was formed in 1997 through Bangkok declaration. It mainly focuses to accelerate economic growth, social growth and accelerate growth on common interest in the region.

BIMSTEC also connect ecologies of Great Himalayas and the Bay of Bengal. Initially, There were four nations namely, Bangladesh, India, Sri Lanka and Thailand and known as BIST-EC. It was renamed to BIMST-EC in 1997 after entry of Myanmar. In 2004, after admission of Nepal and Bhutan it's name changed to 'Bay of Bengal Initiative for Multi-Sectoral Technical and Economical Cooperation'.
OBJECTIVE:

• Creating an environment to pace up economic development in the region.
• encouraging spirit of equality and partnership.
• Promoting collaboration over common interest of member countries in the region.
• providing support to each other in the field of education, science and technology etc.

PRINCIPLES:

• Sovereign Equality
• No interference in internal affairs
• Territorial integrity
• Political Independence
• Peaceful Co-existence
• Mutual benefit

IMPORTANCE:

BIMSTEC is an organization consisting of south Asian as well as south east Asian countries. It can work as bridge between SAARC and ASEAN countries. BIMSTEC is home to 1.5 billion people, around 22% of total population of world. Total GDP of BIMSTEC is 2.7 trillion and BIMSTEC member are able to achieve constant 6.5% growth rate in last 5 years. It has many important connectivity projects:

• Kaladan Multimodal Project: links India and Myanmar
• Asian trilateral highway: connects India with Thailand through Myanmar.
• Bangladesh-Bhutan-India-Nepal(BBIN)  motor vehicle agreement

IMPORTANCE FOR INDIA:

Being in BIMSTEC allow India to follow neighborhood first policy and act East policy by connecting neighbors and South east Asian countries with India. BIMSTEC will promote development of north eastern states of India by connecting them to Bay of Bengal through Bangladesh and Myanmar. It can be alternative of SAARC that is considered to be dysfunction due to India-Pakistan clashes.

CHAIRMANSHIP:

Every country gets chance to become chairman of BIMSTEC in alphabetical order starting from Bangladesh.

AREAS OF COOPERATION:

BIMSTEC looks for countries to cooperate in 14 sectors that are: Trade and investment, Energy, Technology, Transportation and Communication, Tourism, Fisheries, Agriculture, cultural cooperation, Environment and disaster management, public health, public health, people to people contact, poverty alleviation, counter terrorism and transnational crime, climate change.

MECHANISMS OF MEETINGS

• BIMSTEC Summit: These are the highest policy making body of BIMSTEC and comprises heads of government.
• Ministerial meetings: It is the second most highest policymaking meeting which is attended by foreign ministers of states.
• Senior official meetings: These meetings are attended by senior officials of foreign ministries.
• BIMSTEC working group: These are attended by ambassador of countries in Bangladesh.
• Business and economic forum: These are forums to promote private participation.

CHALLENGES:

• INCONSISTENCY IN HELDING OF MEETINGS: It was decided that summits will held in 2 years and minister meetings every year but in 20 years only 4 summits took place.
• NEGLECTED BY MEMBER STATES: South east Asian countries are more dedicated towards ASEAN while India itself was more inclined towards SAARC.
• BROAD FOCUS AREA: BIMSTEC looks for cooperation in 14 areas.
• BILATERAL RELATIONS: For example, Bangladesh is having problem of Rohingya refugees from Myanmar.

BIMSTEC AND INDIA:

In second swearing in ceremony as Prime Minister of India, Narendra Modi has cleared to shift focus from SAARC to BIMSTEC by inviting BIMSTEC heads. Two policies neighborhood policy and act east policy is promoted to develop relations with south east countries also. India look forward to achieve aims of BIMSTEC.

SECRETARIAT:

The BIMSTEC permanent secretariat at Dhaka was opened at 2014 and India contributes 33% of it's expenditure.