BIMSTEC Summit Overview
The sixth BIMSTEC summit was held in Bangkok, bringing together leaders from seven neighboring countries amid global challenges. This event aimed to rejuvenate the regional grouping after a period of inactivity.
Background
- Purpose: Initially intended as a bridge between South Asia's SAARC and South East Asia's ASEAN.
- Challenges: Stagnation due to lack of purpose and political issues, particularly after India-Pakistan relations soured post-2014.
- Other Regional Groupings: The Bangladesh-Bhutan-India-Nepal micro-grouping faced setbacks after Bhutan's parliament rejected the Motor Vehicles Agreement.
Summit Highlights
- Agreements:
- Establishment of a BIMSTEC Chamber of Commerce.
- Progress on the India-Myanmar-Thailand Trilateral Highway to connect India's North-East to the Pacific Ocean.
- Joint disaster management mechanism development.
- Plans for a Free Trade Agreement (FTA) and Customs agreements outlined in the 'Vision 2030' document.
Future Considerations
While the summit was productive, many initiatives mirrored past SAARC agreements. Ensuring the cohesion and sustainability of BIMSTEC is crucial to avoid the stagnation experienced by SAARC.
