BIMSTEC Countries
Source: PIB
GS II: Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests
Overview
- News in Brief
- What is BIMSTEC?
- BIMSTEC Countries
Why in the News?
India hosted the first BIMSTEC Foreign Ministers’ Retreat held in New Delhi,
News in Brief
- Fruitful discussions with the group of Ministers on further strengthening the regional cooperation in diverse areas including connectivity, energy, trade, health, agriculture, science, security and people to people exchanges.
- Stressed on the role of BIMSTEC as an engine for economic and social growth.
- India fully supports Thailand for the upcoming BIMSTEC Summit to be held in September.
What is BIMSTEC?
- BIMSTEC is a regional organization
- BIMSTEC Countries comprising seven Member States:
- Five from South Asia: Bangladesh, Bhutan, India, Nepal, and Sri Lanka.
- Two from Southeast Asia: Myanmar and Thailand.
- It was established on June 6, 1997, through the Bangkok Declaration.
- The BIMSTEC Secretariat is headquartered in Dhaka, Bangladesh.
Areas of Cooperation:
- BIMSTEC covers various sectors, including:
- Trade
- Technology
- Energy
- Transport
- Tourism
- Fisheries
- Agriculture
- Human resource development
- Investment
- Commerce
Significance of BIMSTEC Countries
- Global Weightage:
- Approximately 22% of the world’s population resides in the seven BIMSTEC countries around the Bay of Bengal.
- Their combined GDP is close to USD 2.7 trillion.
- A fourth of the world’s traded goods pass through this region annually.
- Regional Strategic Incentives:
- Each country has unique strategic interests:
- Bangladesh aims to elevate its status beyond being a small state on the Bay of Bengal.
- Sri Lanka sees it as an opportunity to connect with Southeast Asia and become an Indo-Pacific hub.
- Nepal and Bhutan seek to overcome their landlocked positions by connecting with the Bay of Bengal.
- Myanmar and Thailand view BIMSTEC as a means to access India’s consumer market and balance China’s influence.
- Each country has unique strategic interests:
- Importance for India:
- BIMSTEC aligns with India’s foreign policy objectives of “Neighborhood First” and “Act East.”
- It bridges South and Southeast Asia, encompassing the ecologies of the Great Himalayas and the Bay of Bengal.
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