BIMSTEC Summit
Kartavya Desk Staff
Source: DD News
Context: The 6th BIMSTEC Summit will be held on April 4, 2025, in Bangkok, Thailand with the theme “Prosperous, Resilient, and Open BIMSTEC.”
• It aims to enhance regional cooperation on trade, security, connectivity, and endorse the Bangkok Vision 2030.
About BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation):
• What is BIMSTEC? A regional grouping connecting South Asia and Southeast Asia to promote technical and economic cooperation among nations bordering the Bay of Bengal.
• A regional grouping connecting South Asia and Southeast Asia to promote technical and economic cooperation among nations bordering the Bay of Bengal.
• Established On: 6 June 1997, via the Bangkok Declaration.
• Originally named BIST-EC (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation). On 22 December 1997 during a special Ministerial Meeting in Bangkok, the Group was renamed ‘BIMST-EC’ (Bangladesh, India, Myanmar, Sri Lanka and Thailand Economic Cooperation). In 1998, Nepal became an observer. In February 2004, Nepal and Bhutan became full members and renamed as BIMSTEC in 2004.
• Originally named BIST-EC (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation).
• On 22 December 1997 during a special Ministerial Meeting in Bangkok, the Group was renamed ‘BIMST-EC’ (Bangladesh, India, Myanmar, Sri Lanka and Thailand Economic Cooperation).
• In 1998, Nepal became an observer.
• In February 2004, Nepal and Bhutan became full members and renamed as BIMSTEC in 2004.
• Headquarters: Dhaka, Bangladesh (Operational since 2014).
• Members (7 Countries): Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand.
• Chairmanship Procedure: Rotational leadership in alphabetical order of member states.
• Objectives of BIMSTEC:
• Promote economic cooperation among countries bordering the Bay of Bengal. Facilitate sectoral collaboration in trade, technology, energy, transport, and environment. Address shared regional challenges including terrorism, poverty, and climate change. Foster regional connectivity through cross-border infrastructure and digital links. Enable people-to-people ties, cultural exchanges, and academic partnerships.
• Promote economic cooperation among countries bordering the Bay of Bengal.
• Facilitate sectoral collaboration in trade, technology, energy, transport, and environment.
• Address shared regional challenges including terrorism, poverty, and climate change.
• Foster regional connectivity through cross-border infrastructure and digital links.
• Enable people-to-people ties, cultural exchanges, and academic partnerships.
• Key Features of BIMSTEC:
• Bridge between SAARC and ASEAN: Offers a unique geostrategic platform uniting South and Southeast Asia. Sector-led cooperation: Began with six sectors in 1997, now streamlined to seven core sectors post-2021 reforms. Focus on Security and Trade: Includes counter-terrorism, disaster management, and maritime cooperation. Vision-based Agenda: 6th Summit to adopt Bangkok Vision 2030 and Maritime Transport Agreement. Institutional Strengthening: BIMSTEC Charter signed in 2022; Secretariat operational since 2014.
• Bridge between SAARC and ASEAN: Offers a unique geostrategic platform uniting South and Southeast Asia.
• Sector-led cooperation: Began with six sectors in 1997, now streamlined to seven core sectors post-2021 reforms.
• Focus on Security and Trade: Includes counter-terrorism, disaster management, and maritime cooperation.
• Vision-based Agenda: 6th Summit to adopt Bangkok Vision 2030 and Maritime Transport Agreement.
• Institutional Strengthening: BIMSTEC Charter signed in 2022; Secretariat operational since 2014.