BAY OF BENGAL INITIATIVE FOR MULTI-SECTORAL TECHNICAL AND ECONOMIC COOPERATION (BIMSTEC)

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Ambitious Approach Needed: EAM Jaishankar urged BIMSTEC to adopt a more ambitious approach, given the evolving global order that is becoming increasingly regional and agenda-specific. This suggests a need for BIMSTEC to be more proactive and impactful in addressing regional challenges and opportunities.
India’s Central Role & Connectivity: Jaishankar highlighted India’s crucial role, particularly its northeastern region, in establishing transport and connectivity linkages within BIMSTEC. This emphasizes India’s commitment to facilitating regional integration and infrastructure development.
Meeting Context: The foreign ministers’ meeting in Bangkok served as preparation for the upcoming BIMSTEC Summit.
BIMSTEC’s Core Purpose: It aims to foster economic and technical cooperation among countries bordering the Bay of Bengal, bridging South and Southeast Asia.
Membership: BIMSTEC includes Bangladesh, Bhutan, India, Nepal, Sri Lanka, Myanmar, and Thailand.
Origin & Structure: Established in 1997, it operates through a rotational chairmanship and consensus-based decision-making. The permanent secretariat is in Dhaka.
Charter Adoption: The BIMSTEC Charter was adopted in 2022, providing the organization with a legal framework.
Key Objectives: Focus on economic growth, social progress, trade and investment, transport and connectivity, regional security, technical collaboration, and sustainable development.