Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (Bimstec): An Overview
Twenty-eight years after its inception, Bimstec countries are working to enhance regional prosperity through the Bangkok Vision 2030. This vision aims to establish a "prosperous, resilient and open" Bimstec, aligning with the UN's Sustainable Development Goals and Thailand's bio-circular-green economic model.
Key Initiatives
- India announced several initiatives at the sixth summit in Bangkok:
- Bimstec Centres of Excellence focusing on disaster management, sustainable maritime transport, traditional medicine, and agri-research.
- A "Bodhi Programme" for skill development.
- A pilot study for digital public infrastructure.
- Formation of a Bimstec chamber of commerce.
- Enhancing people-to-people linkages.
Strategic Alignment and Challenges
- India's engagement aligns with its "Act East" policy, aiming to counterbalance Chinese influence and the inactive SAARC.
- Challenges within Bimstec include:
- Increased intra-group political tensions, such as weakened Indo-Bangladesh ties and Bangladesh's strained relations with Myanmar.
- Myanmar’s civil unrest limiting its productive contribution.
Institutional Inertia and Wide-ranging Agenda
- Bimstec meetings are infrequent, with only six summits conducted, and the secretariat in Dhaka remains under-resourced.
- The organization's expansive agenda of 14 areas, including trade, health, and climate change, dilutes focus from forming a meaningful alliance.
- A 2004 free-trade agreement has seen no progress.
Infrastructure and Connectivity
- Key projects in infrastructure and connectivity, such as coastal shipping and an intra-regional energy grid, remain incomplete due to pending legal agreements.
Future Prospects
- The potential for change exists if Bimstec boosts its operational dynamism, especially considering China's regional influence and the need for stronger intra-group economic ties.
- India, as the largest economy in the bloc, plays a crucial role in managing cooperation processes.
