Technical and Economic Cooperation (BIMSTEC)

Context

India hosted the 8th Meeting of Agriculture Experts of Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Countries through video conferencing.

Key-highlight of the meeting

• In this meeting, the UN Food System Summit 2021 and transformational aspects that are happening across agriculture and food systems globally were highlighted.
• Emphasis was given to enhance the engagement and deepen the cooperation in agriculture and allied sectors amongst the BIMSTEC Member States. 
• The BIMSTEC Member States also appreciated the greater engagement of India in offering six slots of scholarships for Master and PhD programmes in agriculture and other initiatives for capacity development & training.

What is BIMSTEC?

• BIMSTEC is an economic bloc that came into being on 6 June 1997 through the Bangkok Declaration.
• BIMSTEC headquarters is located in Dhaka, Bangladesh.
• Sectors were later expanded to 14 areas of cooperation.
  • Agriculture is one among the 14 sectors.
• Out of the 7 members,
  • Five are from South Asia –
    • Bangladesh
    • Bhutan
    • India
    • Nepal
    • Sri Lanka

  • Two are from Southeast Asia –

    • Myanmar
    • Thailand
• BIMSTEC not only connects South and Southeast Asia, but also the ecologies of the Great Himalayas and the Bay of Bengal.
• BIMSTEC has emerged as the “preferred platform” for regional cooperation in South Asia.
• It mainly aims to create an enabling environment for 
  • • Rapid economic development
    • Accelerate social progress
    • Promote collaboration on matters of common interest in the region

What are the areas of BIMSTEC cooperation?

• Trade and Investment
• Technology
• Energy
• Transportation and Communication
• Tourism
• Fisheries
• Agriculture
• Cultural Cooperation
• Environment and Disaster Management
• Public Health
• People-to-People Contact
• Poverty Alleviation
• Counter Terrorism and Transnational Crime
• Climate Change

How is BIMSTEC Important for India?

• It provides a new platform for India to engage with its neighbours with the South Asian Association for Regional Cooperation (SAARC) becoming dysfunctional because of differences between India and Pakistan.
• BIMSTEC allows India to pursue three core policies-
  • Neighborhood First – primacy to the country’s immediate periphery;
  • Act East – connect India with Southeast Asia; and
  • Economic development of India’s northeastern states – by linking them to the Bay of Bengal region via Bangladesh and Myanmar.
• Allows India to counter China’s creeping influence in countries around the Bay of Bengal due to the spread of its One Belt and One Road Initiative.
• It is of utmost significance to India as it is a major support in implementing its Act East Policy and the development of its ambitious ‘Sagar Mala’ project.