The sixth BIMSTEC summit is scheduled for April 4th in Bangkok, with Prime Minister Narendra Modi already in attendance. BIMSTEC, or the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation, is a regional organization.
Bimstec 6th Summit: The sixth summit of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is taking place in Bangkok on April 4th. Prime Minister Narendra Modi has already arrived in Bangkok for this historic event and received a grand welcome. A meeting of foreign ministers was held on April 3rd, a day before the summit, while a meeting of senior officials on April 2nd laid the groundwork for the event.
What is BIMSTEC?
BIMSTEC is a multilateral organization connecting South and Southeast Asia. It comprises seven member states:
Bangladesh
India
Bhutan
Sri Lanka
Myanmar
Nepal
Thailand
The organization's headquarters are located in Dhaka, the capital of Bangladesh. Formed in 1997, its primary objective is to foster economic cooperation and technical partnerships. It initially comprised Bangladesh, Sri Lanka, India, and Thailand, later expanding to include other nations.
BIMSTEC's Strength and India's Role
BIMSTEC acts as a bridge between not only South Asia but also Southeast Asia. India is one of the most influential members of this organization. Prime Minister Modi further solidified the organization's role by inviting leaders from BIMSTEC member countries to his swearing-in ceremony in 2019.
BIMSTEC's strength is evident in the fact that a quarter of global trade passes through the Bay of Bengal annually. Cooperation among member states not only boosts regional trade but also facilitates collective efforts on issues such as terrorism, climate change, and disaster management.
BIMSTEC's Diplomatic Significance
BIMSTEC's importance is further enhanced by its role in bringing together South Asian nations that often find their voices stifled within SAARC due to obstacles posed by Pakistan. Through BIMSTEC, India seeks to give a new direction to its economic and strategic relations with its neighboring countries.
BIMSTEC is considered a crucial link for stability and development in the Indo-Pacific region. It not only promotes regional cooperation but also showcases Asian strength on the global stage. The sixth BIMSTEC summit is expected to discuss connectivity, trade, energy, and disaster management. India will strive to accelerate new economic and strategic initiatives in collaboration with other member states.
