Context: Recently, Prime Minister has participated in the the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) grouping’s fifth summit which took place in Colombo, Sri Lanka
About 5th Summit
- Host for the Fifth Summit: Sri Lanka
- Theme: “Towards a Resilient Region, Prosperous Economies, Healthy People”
Main outcomes of the summit
- BIMSTEC Charter: The charter formalizes the grouping into an organization made up of member states that are littoral to, and dependent upon, the Bay of Bengal. Under this Charter, the members were expected to meet once in every two years.
- Adoption of “Master Plan for Transport Connectivity”: It lays out a guidance framework for connectivity-related activities in the region in the future.
- Cooperation Activities: The BIMSTEC cooperation activities will take place in seven pillars, and each of the member countries will lead one pillar. India will lead the security pillar of the BIMSTEC.
Development on connectivity issues
- Amongst the important decisions is the one related to the BIMSTEC Master Plan for Transport Connectivity.
- The region requires seamless connectivity through multi-modal channels that improve links within and amongst the member countries.
- These channels should be in sync with the regulatory frameworks of the member countries.
- There are proposals to extend the trilateral highway project between Thailand, Myanmar and India to Laos and Cambodia. Bangladesh, Bhutan and Nepal have also evinced interest in the project.
- Digitisation has enhanced cooperation in customs regulations and facilitated and improved cargo clearance procedures. All this will surely enhance investment linkages and improve regional trade.
A systemic approach to streamline the evolution of BIMSTEC.
- Establishing an Eminent Persons’ Group (EPG) for formulating a vision document for the region will help in articulating the aspirations of the collective.
- EPGs have been quite useful in the EU and ASEAN.
- For instance, the ASEAN-India Eminent Persons Group (AIEPG) was constituted in 2005 after the Eighth ASEAN-India Summit.
- Its recommendations still guide the grouping’s work.
- In 2011, the EU constituted an EPG to suggest a roadmap to address the challenges arising from the resurgence of intolerance and discrimination in Europe.
MoU for legal assistance and mutual cooperation
- The MoU for legal assistance in criminal matters and additional MoUs for mutual cooperation between diplomatic academics and training institutes would help in creating an ecosystem of deeper knowledge-related cooperation.
- The technology transfer facility proposed in Colombo is likely to augment these efforts.
India’s leading role
- India has promised $1 million to set up a Secretariat in Dhaka.
- India has identified several other areas where it will support the collective.
- Delhi will provide a $3 million grant to the BIMSTEC Centre for Weather and Climate, promote collaboration between industries and start-ups, and launch programmes that will help in the adoption of international standards and norms.
Agricultural trade analysis: Delhi has also suggested a regional value chain based agricultural trade analysis – this will be conducted by the RIS.
- The Asian Development Bank and the New Delhi-based ICRIER have stewarded awareness programmes on trade facilitating measures in the member countries.
Support to Sri Lanka and Nepal: The pandemic has created fresh challenges and aggravated old ones in the countries of the region, particularly Sri Lanka and Nepal.
- India’s support to these countries, especially in financial matters, could help in reducing undesirable external intervention in the region.
Three BIMSTEC Agreements Signed: The BIMSTEC countries signed three agreements, namely:
- BIMSTEC Convention on Mutual Legal Assistance in Criminal Matters;
- BIMSTEC Memorandum of Understanding on Mutual Cooperation in the field of Diplomatic Training,
- Memorandum of Association on Establishment of BIMSTEC Technology Transfer Facility.
Road Ahead
- The term of the Secretary-General of the BIMSTEC may be extended. It would provide stability to several of the collective’s initiatives.
- Besides economic links, the Bay of Bengal countries share a cultural and civilisational legacy. Therefore, institutions like Nalanda University can play a role in promoting research on cultural and civilisational linkage. They can help in the adoption of sustainable practices in the region.