{"id":23864,"date":"2024-04-16T18:35:24","date_gmt":"2024-04-16T13:05:24","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=23864"},"modified":"2024-04-17T10:30:37","modified_gmt":"2024-04-17T05:00:37","slug":"stabilizing-regional-platform-bimstec","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/editorial-analysis\/16-04-2024\/stabilizing-regional-platform-bimstec","title":{"rendered":"Stabilizing Regional Platform BIMSTEC"},"content":{"rendered":"\n<p><strong>Syllabus: GS2\/ Agreements Involving India &amp;\/or Affecting India\u2019s Interests<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-0dab4a35479cb7a88ac0f778de143bb9\" style=\"color:#015aa7\"><strong>In Context<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Presenting the <strong>BIMSTEC Charter in Nepal&#8217;s Parliament<\/strong> signifies progress towards regional cooperation and economic prosperity for the member states.\n<ul class=\"wp-block-list\">\n<li>The Charter serves as the foundational document, setting <strong>out principles and structures for cooperation<\/strong> among member states.&nbsp;<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-b0fec47683dfe94795c3acf873f2f27f\" style=\"color:#015aa7\"><strong>BIMSTEC<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>About: <\/strong>The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a multilateral regional organisation.&nbsp;<\/li>\n\n\n\n<li><strong>Aim: <\/strong>It was established with the aim of accelerating shared growth and cooperation between littoral and adjacent countries in the Bay of Bengal region.<\/li>\n\n\n\n<li><strong>Origin and Membership:&nbsp; <\/strong>It was founded as<strong> BIST-EC<\/strong>, in June 1997, with the <strong>adoption of the Bangkok Declaration<\/strong>, with<strong> Bangladesh, India, Sri Lanka and Thailand<\/strong> as members.\n<ul class=\"wp-block-list\">\n<li>It became <strong>BIMST-EC<\/strong> (Bangladesh, India, <strong>Myanmar<\/strong>, Sri Lanka and Thailand Economic Cooperation) with the entry of Myanmar in late 1997, And eventually, it was named in its current form, when <strong>Nepal and Bhutan became members in 2004<\/strong>.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Strength: <\/strong>The BIMSTEC region hosts <strong>22% of the world population <\/strong>or 1.68 billion people; and the member states have a <strong>combined GDP of US$3.697<\/strong> <strong>trillion<\/strong>\/per year.<\/li>\n\n\n\n<li><strong>Working Mechanism: <\/strong>Policy making would be done through two types of meetings:\n<ul class=\"wp-block-list\">\n<li><strong>Summits<\/strong>, which are supposed to be held every two years; and&nbsp;<\/li>\n\n\n\n<li><strong>Ministerial meetings of Foreign and Commerce Ministers <\/strong>of member countries for deciding on trade and economic affairs, to be held once every year. An <strong>operational meeting of senior officials<\/strong> to monitor the activities of the grouping is also supposed to be held twice a year.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-25928e5aeeb116a0267b05a62c786007\" style=\"color:#015aa7\"><strong>Significance&nbsp;<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Need of formation: <\/strong>The Bay of Bengal region was one of the <strong>world\u2019s most integrated regions<\/strong> until the early twentieth century.\n<ul class=\"wp-block-list\">\n<li>But, after the 1940s, members of the region became independent and pursued separate goals and alliance systems, the <strong>region\u2019s sense of community <\/strong>has almost completely eroded.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>So, the aim of setting up the regional grouping was <strong>not to create a new region for cooperation <\/strong>but <strong>to revive the connectivity<\/strong> and <strong>common interests <\/strong>of the members of the Bay of Bengal region.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Acting as a bridge: <\/strong>Its significance lies in the fact that it serves as a direct link <strong>between South Asian and South East Asian countries<\/strong> through intra-regional collaboration.\n<ul class=\"wp-block-list\">\n<li>It represents a reinforcement of relations among these countries.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Sector-driven approach: <\/strong>What makes BIMSTEC different from other regional groupings such as <strong>SAARC or ASEAN <\/strong>is that it is a<strong> sector-driven organisation.&nbsp;<\/strong>\n<ul class=\"wp-block-list\">\n<li>This means the goals or areas of cooperation are divided between members, for instance, out of the multiple sectors like <strong>trade, energy, transport, fishery, security, culture, tourism <\/strong>and so on.\n<ul class=\"wp-block-list\">\n<li>For example, India was made responsible for areas like transportation, tourism and Counter-Terrorism earlier.&nbsp;<\/li>\n\n\n\n<li>After which, India was BIMSTEC&#8217;s pillar for security; this will include areas of<strong> counter Terrorism and Transnational Crime (CTTCC)<\/strong> <strong>Disaster Management <\/strong>and <strong>Energy.<\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Alternative to SAARC: <\/strong>The progress of SAARC has stalled over the years due to Indo-Pak relations and what experts call Pakistan\u2019s obstructionist approach to the organisation.\n<ul class=\"wp-block-list\">\n<li>BIMSTEC emerged as an alternative platform for cooperation.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-845a81c1f022b3e6a1a60e4112f32411\" style=\"color:#015aa7\"><strong>India &amp; BIMSTEC<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Importance of BIMSTEC for India: <\/strong>For India, BIMSTEC aligns with<strong> its \u2018Act East\u2019 policy<\/strong> for greater regional cooperation in southeast Asia.\n<ul class=\"wp-block-list\">\n<li>It could also be seen as aligning with<strong> India\u2019s larger goal to gain trade and security prominence<\/strong> in the Indian Ocean region and to cater to the concept of the \u2018Indo-Pacific\u2019 region, a major focus of Quad countries.<\/li>\n\n\n\n<li>Another important factor for India in becoming a prominent<strong> leader in the Bay of Bengal<\/strong> and maintaining <strong>peace and security<\/strong>.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>India\u2019s efforts: <\/strong>India also made efforts to enhance the pace of BIMSTEC\u2019s progress in recent years.\n<ul class=\"wp-block-list\">\n<li><strong>The BIMSTEC Energy Centre<\/strong> was set up in <strong>Bengaluru<\/strong>, along with the <strong>BIMSTEC Business Council<\/strong>, a forum for business organisations to promote regional trade.\n<ul class=\"wp-block-list\">\n<li>It aims to create free-trade and power grid interconnectivity agreements, and a masterplan for transport connectivity in the Bay of Bengal region.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-96b437eb9c587c352fa5b10202019c3a\" style=\"color:#015aa7\"><strong>Challenges<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Sluggish pace: <\/strong>The first and major challenge, according to foreign policy researchers, is a lack of efficiency and \u201csluggish\u201d pace of BIMSTEC\u2019s progress.\n<ul class=\"wp-block-list\">\n<li>The<strong> inconsistency in holding policy making<\/strong> and<strong> operational meetings <\/strong>is also a concern.&nbsp;<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Inadequate assistance: <\/strong>BIMSTEC secretariat also suffers from<strong> inadequate financial and manpower assistance<\/strong> for its operational activities.<\/li>\n\n\n\n<li><strong>Trade challenges: <\/strong>India\u2019s percentage of annual trade with BIMSTEC countries as a percentage of its total foreign trade was in the double digits in the 1950s, but <strong>was just 4% as of 2020.&nbsp;<\/strong>\n<ul class=\"wp-block-list\">\n<li>Inter-regional trade within BIMSTEC countries also varies significantly; research shows that member countries trade with each other in terms of the <strong>proximity, availability of trade routes and the size of the country\u2019s economy<\/strong>.&nbsp;<\/li>\n\n\n\n<li>Notably, it was also seen that a lot of the time, BIMSTEC member countries don\u2019t import goods that are manufactured and exported by other members, instead importing from other non-member countries.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Absence of connected coastal ecosystem: <\/strong>BIMSTEC members are yet to build a <strong>shared and lucrative coastal shipment ecosystem<\/strong> and also grapple with frequent <strong>detention of fishermen<\/strong> who cross territorial borders.<\/li>\n\n\n\n<li><strong>Challenges faced by members: <\/strong>In recent years, the progress of BIMSTEC has also been underscored by Bangladesh-Myanmar relations over the Rohingya refugee crisis, the India-Nepal border issue, and most recently, the political situation in Myanmar.\n<ul class=\"wp-block-list\">\n<li>The first half of 2024 may witness elections in Bhutan, Bangladesh, India and Sri Lanka. Most likely, there will be further delay in holding the Summit.&nbsp;&nbsp;<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-a80329313fb6564e7b60e9d0ed173be7\" style=\"color:#015aa7\"><strong>Suggestions &amp; Way Ahead<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Trade <\/strong>is one of the priority areas of the BIMSTEC.\n<ul class=\"wp-block-list\">\n<li>The progress needs to be made in the BIMSTEC<strong> Free Trade Agreement (FTA).&nbsp;<\/strong><\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>BIMSTEC\u2019s <strong>connectivity plan<\/strong> is ready, but the <strong>real implementation<\/strong> is yet to start.\n<ul class=\"wp-block-list\">\n<li>Since the BMCA is ready, the Secretariat may pick up the maritime sector (example, ports, IWT, and shipping) as low-hanging fruit to start with. Besides,<strong> trade and transit facilitations<\/strong> must be given top priority along with energy and digital connectivity.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Overall, <strong>a stronger secretariat is a must <\/strong>to drive meaningful interactions among member-states.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-background\" style=\"background-color:#ebecf0\"><tbody><tr><td><strong>Daily Mains Question<\/strong><br><strong>[Q] <\/strong>Analyse the significance of Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) for India &amp; the region. What are the challenges faced by the organisation?<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.nextias.com\/ca\/wp-content\/uploads\/2024\/04\/Daily-Editorial-Analysis-16-04-2024.pdf\">Download PDF<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Presenting the BIMSTEC Charter in Nepal&#8217;s Parliament signifies progress towards regional cooperation and economic prosperity for the member states.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[22],"tags":[],"class_list":["post-23864","post","type-post","status-publish","format-standard","hentry","category-editorial-analysis"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/23864","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=23864"}],"version-history":[{"count":4,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/23864\/revisions"}],"predecessor-version":[{"id":23874,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/23864\/revisions\/23874"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=23864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=23864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=23864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}