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"Bay of Bengal Initiative for
Multi-Sectoral Technical and Economic Cooperation
""Flag of Bay of Bengal Initiative forMulti-Sectoral Technical and Economic Cooperation  (BIMSTEC)  বঙ্গোপসাগরীয় বহুক্ষেত্রীয় প্রযুক্তিগত ও অর্থনৈতিক সহযোগীতা উদ্যোগ (বিম্‌সটেক্)  (Bengali)  बहुक्षेत्रीय तकनीकी और आर्थिक सहयोग के लिए बंगाल की खाड़ी पहल (बिम्सटेक)  (Hindi)
Flag
""BIMSTEC (orthographic projection).svg
"Secretariat "Dhaka, Bangladesh[1]
Membership (In Alphabetical Order )
Leaders
• Chairmanship
   "Nepal (since 2014)
Establishment 6 June 1997; 20 years ago (1997-06-06)
Website
bimstec.org

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is an international organisation of 7 nations of "South Asia and "South East Asia, housing 1.5 billion people with 2.5 trillion combined economy (2014),[2][3] including "Bangladesh, "India, "Myanmar, "Sri Lanka, "Thailand, "Bhutan and "Nepal.[4] The BIMSTEC states are among the "countries dependent on the Bay of Bengal. 14 priority sectors of cooperation has been identified and several BIMSTEC centres have been established in these areas.[2][5] Free Trade Agreement is under negotiation (c. 2018).

Chairmanship is rotated in alphabetical order and the permanent secretariat is at "Dhaka.

Contents

Background[edit]

On June 6, 1997, a new sub-regional grouping was formed in "Bangkok under the name BIST-EC ("Bangladesh, "India, "Sri Lanka, and "Thailand Economic Cooperation).[6][7] On 22 December 1997, "Myanmar became a full member, resulting in the renaming of the grouping to BIMST-EC. In 1998, Nepal became an observer. In February 2004, Nepal and "Bhutan became full members.

On July 31, 2004, in the first Summit the grouping was renamed as BIMSTEC or the "Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation.[8]

Objective[edit]

The main objective of BIMSTEC is technological and economic cooperation among south Asian and southeast Asian countries along the coast of the bay of Bengal. Commerce, investment, technology, tourism, human resource development, agriculture, fisheries, transport and communication, textiles, leather etc. have been included in it.[3] provide cooperation to one another for the provision of training and research facilities in educational vocational and techinical fields. promote active collaboration and mutual assistance in economic,social ,techinical and scientific fields of common interest.

Permanent Secretariat[edit]

BIMSTEC Permanent Secretariat is at "Dhaka was opened in 2014 and India provides 33% (65% of region's population) of its expenditure.[2][9]

Chairmanship[edit]

BIMSTEC uses the alphabetical order for the Chairmanship. The Chairmanship of BIMSTEC has been taken in rotation commencing with Bangladesh (1997–1999).[10]

Member nations[edit]

Countries Leader Position "Head of government "Head of state Population

(2016)[11]

"GDP

"(nominal)

"World "Bank "SAARC
 "Bangladesh Prime minister "Sheikh Hasina,

"Prime Minister of Bangladesh

"Abdul Hamid, "President of Bangladesh 162,951,560 $205.3 bn
 "Bhutan Prime minister "Tshering Tobgay,

"Prime Minister of Bhutan

"Jigme Khesar Namgyel Wangchuck, "King of Bhutan 797,765 $2.2 bn
 "India Prime minister "Narendra Modi,

"Prime Minister of India

"Ram Nath Kovind, "President of India 1,324,171,354 $2308.0 bn
 "Myanmar President "Htin Kyaw, "President of Myanmar 52,885,223 $68.277 bn
   "Nepal Prime minister "Sher Bahadur Deuba,

"Prime Minister of Nepal

"Bidhya Devi Bhandari, "President of Nepal 28,982,771 $21.6 bn
 "Sri Lanka President "Ranil Wickremesinghe,

"Prime Minister of Sri Lanka

"Maithripala Sirisena, "President of Sri Lanka 20,798,492 $80.4 bn
 "Thailand Prime minister "Prayut Chan-o-cha, "Prime Minister of Thailand King "Vajiralongkorn (Rama X),

"King of Thailand

68,863,514 $409.724 bn

BIMSTEC priority sectors[edit]

14 priority areas have been identified with the lead nations appointed to lead the effort:[2][5][12]

Priority Area Lead Country Centre Comments
Transport and communication India
Tourism India BIMSTEC Information Centre, "Delhi
Counterterrorism and transnational crime India Four subgroups: Intelligence sharing - Sri Lanka (lead),
Terror financing - Thailand,
Legal - Myanmar,
Law enforcement and narcotics - Myanmar
Environment and disaster management India Tsunami Warning Centre, "Noida
Energy Myanmar BIMSTEC Energy Centre, "Bengaluru BIMSTEC Grid Interconnection MoU signed in 2014.[13][14]
Public Health Thailand BIMSTEC Network of Traditional Medicine in India
Agriculture Myanmar
Trade & Investment Bangladesh
Technology Sri Lanka
Fisheries Thailand
Poverty Alleviation Nepal
People-to-People Contact Thailand
Climate Change Bangladesh
Cultural Cooperation Bhutan 1200 ITEC scholarships by India

BIMSTEC Free Trade Area Framework Agreement[edit]

BIMSTEC Free Trade Area Framework Agreement (BFTAFA) has been signed by all member nations to stimulate trade and investment in the parties, and attract outsiders to trade with and invest in BIMSTEC at a higher level. Subsequently, the "Trade Negotiating Committee" (TNC) was set up, with Thailand as the permanent chair, to negotiate in areas of trade in goods and services, investment, economic co-operation, trade facilitations and technical assistance for LDCs. Once negotiation on trade in goods is completed, the TNC would then proceed with negotiation on trade in services and investment.

BIMSTEC Coastal Shipping Agreement draft was discussed on 1 December 2017 at New Delhi, to facilitate coastal shipping within 20 nautical miles of the coastline in the region to boost trade between the member countries. Compared to the deep sea shipping, coastal ship require smaller vessels with lesser draft and involve lower costs. Once the agreement becomes operational after it is ratified, a lot of cargo movement between the member countries can be done through the cost effective, environment friendly and faster coastal shipping routes.

Cooperation with Asian Development Bank (ADB)[edit]

"ADB become a partner in 2005, to undertake the "BIMSTEC Transport Infrastructure and Logistic Study" (BTILS), which was completed in 2014.[15]

BIMSTEC Summits[edit]

No. Date Host country Host city
1st 31 July 2004  "Thailand "Bangkok
2nd 13 November 2008  "India "New Delhi
3rd 4 March 2014  "Myanmar "Nay Pyi Daw
4th 2 February 2017    "Nepal "Kathmandu[16]

Projects[edit]

Current leaders of BIMSTEC[edit]

See also[edit]

References[edit]

  1. ^ "Nepal unlikely to host fourth 'Bimstec' summit this year". Business Standard India. 3 June 2016. Retrieved 17 December 2016. 
  2. ^ a b c d BIMSTEC: Building bridges between South Asia & Southeast Asia, IndiaWrites, 2014.
  3. ^ a b BIMSTEC
  4. ^ http://www.thedailystar.net/op-ed/economics/regional-economic-integration-the-bay-bengal-660181
  5. ^ a b "Energy". bimstec.org. Retrieved 2017-12-06. 
  6. ^ Haidar, Suhasini (15 October 2016). "BIMSTEC a sunny prospect in BRICS summit at Goa". The Hindu. Retrieved 16 October 2016. 
  7. ^ "BRICS Summit 2016: BIMSTEC members have economic opportunities to share, said Narendra Modi – The Economic Times". The Economic Times. Retrieved 16 October 2016. 
  8. ^ See for a detailed historical account of the founding and evolution of BIST-EC and BIMST-EC e.g. Michael, Arndt (2013). India's Foreign Policy and Regional Multilateralism (Palgrave Macmillan), pp. 145–163.
  9. ^ Area of cooperation
  10. ^ "Third BIMSTEC Summit Declaration". Retrieved 12 March 2014. 
  11. ^ "World Population Prospects: The 2017 Revision". ESA.UN.org (custom data acquired via website). "United Nations Department of Economic and Social Affairs, Population Division. Retrieved 10 September 2017. 
  12. ^ BIMSTC sectors
  13. ^ "India Cabinet Approves Signing of BIMSTEC Power Grid Pact | News | South Asia Subregional Economic Cooperation". www.sasec.asia. Retrieved 2017-12-06. 
  14. ^ "Nepal to join BIMSTEC Grid Interconnection". Retrieved 2017-12-06. 
  15. ^ BIMSTEC Transport Infrastructure and Logistic Study
  16. ^ "BIMSTEC Summit". Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation. Retrieved 17 December 2016. 

External links[edit]

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