On Thursday, Indian External Affairs Minister S. Jaishankar virtually attended the 17th BIMSTEC Ministerial Meeting. The BIMSTEC, which stands for the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation, is a regional grouping that sees the participation of countries in the Bay of Bengal region. This includes India, Thailand, Myanmar, Nepal, Bangladesh, Sri Lanka, and Bhutan. The members of this grouping house nearly 22% of the world’s population and have a combined GDP of about $2.7 trillion. It was established in 1997, with the aim of bolstering economic and social cooperation among its members in several sectors including trade, energy, tourism, culture, and the environment.
During the conference, which was chaired by Sri Lanka, Jaishankar pushed for further bolstering regional cooperation through the platform and make it “stronger, vibrant, more effective, and result-oriented.” According to a statement by the Indian Ministry of External Affairs, Jaishankar “highlighted progress achieved in sectors where India is the Lead Country viz Counter-Terrorism & Trans-national Crime, Transport & Communication, Tourism, and Environmental & Disaster management and other activities undertaken by India to deepen BIMSTEC cooperation.” He also called for enhanced cooperation to expand regional connectivity, which he said would be “an important step towards fulfilling the aspirations of the people of our region for better connectivity and integration.” In this regard, he urged the members to finalise a legal framework, along with expediting the completion of a coastal shipping deal and a motor vehicles agreement, to augment connectivity.
The gathering also featured extensive discussions relating to preparations for the Fifth BIMSTEC Summit, which is scheduled to take place in Sri Lanka next year. Member states endorsed the signing of multiple legal instruments in the upcoming meet, including “the BIMSTEC Convention on Mutual Legal Assistance in Criminal Matters; Memorandum of Association on the Establishment of BIMSTEC Technology Transfer Facility (TTF) in Colombo, Sri Lanka; and, Memorandum of Understanding on Mutual Cooperation between Diplomatic Academies/Training Institutions of BIMSTEC Member States.” They also called for the adoption of the BIMSTEC Charter at the next gathering, noting that they were currently working to finalise the text of the document.
The BIMSTEC has emerged as a platform of significance in South Asia specifically in light of the several obstacles being faced by SAARC. In 2016, members of the SAARC refused to attend the yearly meeting in Pakistan, thereby diminishing its relevance for regional cooperation. In fact, in June 2019, Jaishankar explicitly declared that the “issues” faced by the SAARC have resulted in the BIMSTEC becoming India’s preferred platform over the next five years.
Indian EAM Jaishankar Calls for Economic Integration at 17th BIMSTEC Ministerial Meet
At the 17th BIMSTEC Ministerial Meet, Indian External Affairs Minister S. Jaishankar highlighted the importance of regional economic coordination.
April 2, 2021
SOURCE: INDIAN EXPRESS