India's role in improving connectivity and addressing shared issues in the Bay of Bengal region

An overview of BIMSTEC

A regional organization called BIMSTEC works to advance technical and economic cooperation between countries in the Bay of Bengal region. The Bangkok Declaration of 1997 laid the groundwork for this organization, which at the time was known as BIST-EC and comprised Bangladesh, India, Sri Lanka, and Thailand. Later that year, Myanmar joined, which resulted in the rebranding as BIMST-EC. Nepal and Bhutan joined in 2004, completing the current BIMSTEC structure. Since its founding, BIMSTEC has expanded to include topics like technology, trade, security, counterterrorism, connectivity, and building relationships between its member states.

Past Summits of BIMSTEC

The Bangkok Declaration, which formally established BIMSTEC as a regional organization, was adopted at the first BIMSTEC Summit in 2004 (Bangkok, Thailand), which was centered on strengthening economic cooperation among member countries.

The agreement to establish the BIMSTEC Free Trade Area (FTA) was the outcome of the second BIMSTEC Summit, which took place in 2008 in New Delhi, India, and focused on trade connectivity, energy, and transportation. In order to make power-sharing easier, India also suggested creating a regional energy grid.

The BIMSTEC Convention on Counter-Terrorism was endorsed and an expert group devoted to energy cooperation was established at the third BIMSTEC Summit in 2014, which took place in Nay Pyi Taw, Myanmar, with the goal of strengthening security and regional connectivity.

The BIMSTEC Charter, which institutionalizes the organization, and a proposal for a BIMSTEC Development Fund were adopted at the 4th BIMSTEC Summit in Kathmandu, Nepal, in 2018. The summit focused on strengthening institutional mechanisms and transport links.

At the 5th BIMSTEC Summit in 2022 (Colombo, Sri Lanka), post-pandemic economic recovery and security cooperation were discussed. The BIMSTEC Charter, which created the organizational framework, was formally adopted. Seven important areas for collaboration were also identified at this summit, including:

The goal of trade and investment in Bangladesh is to promote economic integration and ease trade. India's transportation and communication sector is concentrated on enhancing regional connectivity via roads, trains, and sea routes.

Energy Cooperation (Myanmar): Focusing on renewable energy projects, cross-border power trade, and energy security.

Climate change and disaster management (India); counterterrorism and security: coordinating efforts to counter cyber threats, human trafficking, and terrorism; addressing environmental concerns and improving disaster resilience.

Technology and Innovation (Sri Lanka): Promoting innovation and research. Enhancing healthcare cooperation and preparedness for pandemics is the focus of public health in Thailand.

The significance of BIMSTEC

• Improving Trade and Investment: Encourage economic cooperation and intraregional trade.
• Increasing Connectivity: Develop digital connections, transportation, and infrastructure.
• Enhancing Regional Security: Work together to prevent transnational crime, combat terrorism, and improve cybersecurity.
• Aiming for Sustainable Development: Talk about disaster relief, climate change, and sustainable energy sources.
• Promoting People-to-People Exchanges: Develop partnerships in education, tourism, and culture.

BIMSTEC's importance to India

Strategic Connectivity: Enhances ties between Southeast Asia and Northeast India.

"Act East" Policy: India, BIMSTEC's largest economy, is essential to the group. By strengthening ties with Southeast Asian nations, BIMSTEC supports India's "Act East" policy. The BBIN (Bangladesh, Bhutan, India, Nepal) Motor Vehicle Agreement, trilateral highways, and port connectivity projects are just a few of the BIMSTEC projects in which India is actively involved.

• Economic Growth: Increases Indian businesses' access to new markets.
• Energy Security: Encourages local electricity exchanges and renewable energy projects.
• India's position in the Indo-Pacific region is strengthened by its geopolitical influence.

Alternative to SAARC: Prioritizes cooperation with like-minded countries in order to address the issues that Pakistan has brought to the South Asian Association for Regional Cooperation (SAARC).

Important Projects

The long-awaited BIMSTEC Free Trade Agreement (FTA) aims to improve intraregional trade.

The main topics of discussion are lowering tariffs, promoting investment flows, and facilitating trade.

India has suggested a multi-modal transportation network that combines ports, highways, railroads, and airplane routes in its BIMSTEC Transport Connectivity Master Plan.

Among these projects are the Trilateral Highway (India-Myanmar-Thailand) and the Kaladan Multi-Modal Transit Transport Project (India-Myanmar).

BIMSTEC Energy Grid: To facilitate cross-border energy trade, plans are being made for a regional electrical grid.

India and Myanmar are leading the way in power sharing and renewable energy initiatives. Enhancing security cooperation is the goal of the BIMSTEC Convention on Counter-Terrorism and Transnational Crime. Initiatives in cybersecurity and maritime security are being led by Thailand and India.

As a regional economic and strategic partnership that links South and Southeast Asia, BIMSTEC has a lot of promise. BIMSTEC has the potential to become a key player for regional growth, connectivity, and security under India's leadership and with better member cooperation. However, it requires more political commitment, infrastructure improvements, and required institutional reforms to reach its full potential. If implemented effectively, BIMSTEC has the potential to revolutionize economic partnerships and regional diplomacy in the Bay of Bengal region.