BIMSTEC :

✅BIMSTEC is a regional organization established in 1997, comprising seven member countries located in the Bay of Bengal region i.e. Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand.
✅The BIMSTEC region hosts 22% of the world population or 1.68 billion people; and the member states have a combined GDP of US$3.697 trillion/per year.

✅Principles Of BIMSTEC : Based on respect for the principle of sovereign equality, territorial integrity, political independence, non-interference
in internal affairs, non-aggression, peaceful co-existence, mutual respect and mutual benefit.

Importance Of Bimstec For INDIA :
✅ In Align with ‘Act East’ Policy
✅ Environment and Disaster Management via link between BIMSTEC countries through Tsunami Early Warning Centre.
✅ Strategic Location as India's north eastern states share borders with BIMSTEC member countries.
✅ Connectivity and Infrastructure Development: Examples:
🔸 Kaladan Multimodal Project – links India and Myanmar,
🔸Asian Trilateral Highway - connecting India and Thailand through Myanmar,
🔸Bangladesh-Bhutan-India-
Nepal (BBIN) Motor Vehicles Agreement - for seamless flow of passenger and cargo traffic.
✅ Counterterrorism and Security Cooperation
✅ Maritime Security and Blue Economy
✅ Regional Integration and Influence

ISSUES :

✅A lack of efficiency and “sluggish” pace of BIMSTEC’s progress.
✅ Inadequate Funds and manpower assistance for its operational works.
✅ No Coastal Shipment
✅ India’s percentage of annual trade with it as a percentage of its total foreign trade was just 4%(2020).PRAHAAR
✅ Lack of Mutual Cooperation and Trust
✅ Inconsistency In Summits

✅ Finalizing the BIMSTEC Free Trade Agreement (FTA), which has been under negotiation since 2004.
✅ Implementing the BIMSTEC Master Plan on Transport Connectivity (BMPTC), which was adopted in 2020.
✅ Strengthening the cooperation in the energy sector, especially in the field of renewable energy and natural gas.
✅ Enhancing the cooperation in the security sector, especially in combating terrorism, extremism, drug trafficking and cybercrime.
✅ Promoting the people-to-people exchanges and cultural ties among BIMSTEC countries.

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