CONTEXT 

• The foreign ministers of BIMSTEC (the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) met virtually on April 1.
• They advanced the agenda, which had been arrested by the pandemic, since the last ministerial meeting held in August 2018.
• Their major task was to pave the way for the next summit, the grouping’s fifth, due to be held in Sri Lanka in the “next few months”.

WHAT IS BIMSTEC?

• BIMSTEC is a regional multilateral organisation.
• It has seven members which lie in the littoral and adjacent areas of the Bay of Bengal constituting a contiguous regional unity. These are: Bangladesh, Bhutan, India, Nepal, Sri Lanka, Myanmar and Thailand.
• It aims to create an enabling environment for rapid economic development; accelerate social progress; and promote collaboration on matters of common interest in the region.

UNFOLDING REJUVENATION

• Established as a grouping of four nations — India, Thailand, Bangladesh and Sri Lanka — through the Bangkok Declaration of 1997 to promote rapid economic development.
• BIMSTEC was expanded later to include three more countries — Myanmar, Nepal and Bhutan.
• The group has moved at a leisurely pace during its first 20 years with only three summits held and a record of modest achievements.
• But, now it has suddenly received special attention as New Delhi chose to treat it as a more practical instrument for regional cooperation over a faltering SAARC.
• The BIMSTEC Leaders’ Retreat, followed by their Outreach Summit with the BRICS leaders in Goa in October 2016, drew considerable international limelight to the low-profile regional grouping. This also opened up the path for its rejuvenation.
• The fourth leaders’ summit, held in Kathmandu in August 2018, devised an ambitious plan for institutional reform and renewal that would encompass economic and security cooperation.
• Also in this summit grouping took the important decision to craft a charter to provide itself with a more formal and stronger foundation.
• The shared goal now is to head towards “a Peaceful, Prosperous and Sustainable Bay of Bengal Region”.

RECENT DECISIONS

• The foreign ministers cleared the draft for the BIMSTEC charter, recommending its early adoption.
• They endorsed the rationalisation of sectors and sub-sectors of activity, with each member-state serving as a lead for the assigned areas of special interest.
• The ministers also conveyed their support for the Master Plan for Transport Connectivity, which will be adopted at the next summit.
• Preparations have been completed for the signing of three agreements relating to: mutual legal assistance in criminal matters, cooperation between diplomatic academies, and the establishment of a technology transfer facility in Colombo.

WHAT HAS BEEN MISSING IN RECENT TALKS?

• Recent deliberations lack a reference to the progress on the trade and economic dossier.
• A study by the Federation of Indian Chambers of Commerce and Industry had suggested that BIMSTEC urgently needed a comprehensive Free Trade Agreement to be a real game changer. It should:

1. cover trade in goods,
2. services and investment;
3. promote regulatory harmonisation;
4. adopt policies that develop regional value chains;
5. eliminate non-tariff barriers.

• Also it lacked an effort to enthuse and engage the vibrant business communities of the seven countries, and expand their dialogue, interactions and transactions.
• Thus, BIMSTEC still remains a work in progress.

OTHER HURDLES

• Uncertainties over SAARC hovers, complicating matters. Both Kathmandu and Colombo want the SAARC summit revived, even as they cooperate within BIMSTEC, with diluted zeal.
• China’s decisive intrusion in the South-Southeast Asian space has cast dark shadows.
• The military coup in Myanmar, brutal crackdown of protesters and continuation of popular resistance resulting in a protracted impasse have produced a new set of challenges.

ACHIEVEMENTS

• Much has been achieved in Humanitarian Assistance and Disaster Relief and security, including counter terrorism, cyber security, and coastal security cooperation.
• India has led through constant focus and follow-up — to the extent that some member-states have complained about the ‘over-securitisation’ of BIMSTEC.
• While national business chambers are yet to be optimally engaged with the BIMSTEC project, the academic and strategic community has shown ample enthusiasm through the BIMSTEC Network of Policy Think Tanks and other fora.

WAY FORWARD

• The trick to ensure balance is not to go slow on security but to accelerate the pace of forging solid arrangements for economic cooperation.
• The goal now should be to overcome the obstacles leading to BIMSTEC’s success.
• The grouping needs to ensure a strong cordial and tension-free bilateral relations among all its member-states, unlike the trajectory of India-Nepal, India-Sri Lanka, and Bangladesh-Myanmar ties in recent years.
• The grouping needs to reinvent itself and should hold regular annual summits. Only then will its leaders convince the region about their strong commitment to the new vision they have for this unique platform linking South Asia and Southeast Asia.

Reference:

1. https://www.thehindu.com/opinion/op-ed/bimstec-needs-to-reinvent-itself/article34313033.ece