Quest of a stronger BIMSTEC

(Mians GS 2 : Bilateral, Regional and Global Groupings and Agreements involving India and/or affecting India’s interests.)

Context:

• Prime Minister Narendra Modi while addressing the 5th BIMSTEC Summit said the region is facing challenges of health and economic security, due to which the need of the hour is unity and cooperation.

About 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 having seven Member States: five deriving from South Asia, including Bangladesh, Bhutan, India, Nepal, Sri Lanka, and two from Southeast Asia, including Myanmar and Thailand.
• The objective of building such an alliance was to harness shared and accelerated growth through mutual cooperation in different areas of common interests by mitigating the onslaught of globalization and by utilizing regional resources and geographical advantages. Unlike many other regional groupings, BIMSTEC is a sector-driven cooperative organization.

Strategic and economic integration:

• The Fifth Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Summit, now in its silver jubilee year, is chaired by Srilanka in  virtual/hybrid mode on March 30.
• This special occasion makes it imperative for BIMSTEC leaders to reinforce their commitments and efforts in building the momentum of collaborations in the Bay of Bengal region for the security and development of all.
• This summit is expected to build the required momentum of collaborations among the member states and a finalization of several agreements to enhance regional strategic and economic integration.

Matters for India:

• The unique ecology of BIMSTEC is witnessing enriched political support and commitment from India as BIMSTEC has special significance for India in a changing mental map of the region.
• India has made the Bay of Bengal integral to India’s ‘Neighbourhood First’ and ‘Act East’ policies which can accelerate the process of regional integration.
• Further, finalising the BIMSTEC Charter presents signs of optimism as well as the comeback of the Bay of Bengal as a new economic and strategic space.

Significance of region:

• The economic and strategic significance of the Bay of Bengal is growing rapidly with a re-emergence of the idea of the ‘Indo-Pacific’ region.
• This notion assumes that the growing economic, geopolitical and security connections between the Western Pacific and the Indian Ocean regions are creating a shared strategic space.
• The Bay of Bengal is evolving as the centre of the Indo-Pacific region again; thus, the renewed focus has given a new lease of life to the developmental efforts in the region, in particular BIMSTEC.

Development cooperation:

• BIMSTEC has huge potential as a natural platform for development cooperation in a rapidly changing geopolitical calculus and can leverage its unique position as a pivot in the Indo-Pacific region.
• The regional group constitutes a bridge between South and South East Asia and represents a reinforcement of relations among these countries.
• There has been tangible progress in BIMSTEC cooperation in several areas that include security, counter-terrorism, intelligence sharing, cybersecurity and coastal security, and transport connectivity and tourism, among others.

Need collective efforts:

• The growing value of BIMSTEC and its attempt to generate synergy through collective efforts by member states is easy to understand.
• BIMSTEC has potential due to geographical contiguity, abundant natural and human resources, and rich historical linkages and a cultural heritage for promoting deeper cooperation in the region.
• Connectivity is essential to develop a peaceful, prosperous and sustainable Bay of Bengal region, therefore, BIMSTEC needs to address two dimensions of connectivity – one, upgrading and dovetailing national connectivity into a regional road map; and two, development of both hard and soft infrastructures.

Conclusion:

• The Bay of Bengal has the potential to become the epicentre of the Indo-Pacific idea — a place where the strategic interests of the major powers of East and South Asia intersect.
• Thus, political support and strong commitment from all member countries are crucial in making BIMSTEC a dynamic and effective regional organisation.