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BIMSTEC Complete Notes

BIMSTEC, established on June 6, 1997, is a regional organization comprising seven member countries: India, Bangladesh, Myanmar, Sri Lanka, Thailand, Nepal, and Bhutan, aimed at promoting economic growth and regional cooperation. Its objectives include enhancing trade, security, and connectivity across various sectors, with a charter adopted in 2022 to provide legal status. Key challenges include slow implementation and low intra-regional trade, while future opportunities lie in blue economy and energy connectivity.

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7 views2 pages

BIMSTEC Complete Notes

BIMSTEC, established on June 6, 1997, is a regional organization comprising seven member countries: India, Bangladesh, Myanmar, Sri Lanka, Thailand, Nepal, and Bhutan, aimed at promoting economic growth and regional cooperation. Its objectives include enhancing trade, security, and connectivity across various sectors, with a charter adopted in 2022 to provide legal status. Key challenges include slow implementation and low intra-regional trade, while future opportunities lie in blue economy and energy connectivity.

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BIMSTEC – Complete PDF Notes

Full Form: Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation
Established: 6 June 1997
Headquarters: Dhaka, Bangladesh
Total Members: 7

Member Countries: India, Bangladesh, Myanmar, Sri Lanka, Thailand, Nepal, Bhutan

Objectives: Promote economic growth, regional connectivity, technical cooperation, and security
cooperation.

Sectors of Cooperation (7):


1. Trade, Investment & Development (Bangladesh)
2. Environment & Climate Change (Bhutan)
3. Security – Counter-terrorism & Transnational Crime (India)
4. Agriculture & Food Security (Myanmar)
5. People-to-People Contact (Thailand)
6. Science, Technology & Innovation (Sri Lanka)
7. Connectivity (India)

Institutional Structure:
- BIMSTEC Summit (Heads of State/Government)
- Ministerial Meeting (Foreign Ministers)
- Senior Officials Meeting
- BIMSTEC Secretariat (Dhaka)

BIMSTEC Charter: Adopted in 2022 at the 5th Summit in Colombo, providing legal status to
BIMSTEC.

Importance for India:


- Supports Act East Policy
- Enhances Bay of Bengal maritime security
- Alternative to SAARC

Challenges:
- Slow implementation
- Low intra-regional trade
- Political instability

Future Scope:
- Blue Economy
- Energy connectivity
- Digital and transport connectivity

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