The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation
BIMSTEC Secretariat House 6, Road 53, Gulshan 2, Dhaka, Bangladesh Email:
[email protected] Website: www.bimstec.org
Origin and evolution of BIMSTEC
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) was established as a regional grouping on 6 June 1997 with the Bangkok Declaration Initially a four Member regional organization named BIST-EC(BangladeshIndia-Sri Lanka-Thailand Economic Cooperation) Myanmar joined on 22 Dec 1997, and the organization was renamed as BIMST-EC(Bangladesh - India - Myanmar - Sri Lanka -Thailand Economic Cooperation) With the joining of Nepal and Bhutan in Feb 2004, the organization was renamed as BIMSTEC(Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) Its seven country membership now comprises Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand. The objective is to accelerate economic growth and social progress in the sub-region through joint endeavors. Further, to cooperate more effectively in joint efforts that are supportive of and complementary to national development plans of Member States.
BIMSTEC at glance
BIMSTEC is a market of almost 1.7 billion people, 1/5th of the world’s total. BIMSTEC accounts for US$ 3 trillion economy(4% of global GDP - 2016) While BIMSTEC global trade volume is US$ 1295 billion (3.7 % of global trade), intra-regional trade was only about US$ 37 billion in 2014 (2.86%). GDP growth in BIMSTEC (approx 6%) much higher than world’s (2.5% in 2016) FDI inflows was US$ 61 billion in 2015. Geographical contiguity, abundant natural and human resources, rich historical linkages and shared cultural heritage define BIMSTEC. BIMSTEC’s potential in enhancing trade among the Member States lies in geographical contiguity and common coastal link with the Bay of Bengal. BIMSTEC Members are at different levels of development, 4 LDCs with Bangladesh in the process of graduating from LDC status
BIMSTEC Cooperation
14 identified sectors of cooperation each sector being led by a Member State. BIMSTEC is a member driven organization with the Secretariat acting as a facilitator. 5 Member States of BIMSTEC are also members of SAARC and 2 Member States are part of ASEAN, 6 Member States are also members of SASEC(South Asia Sub-regional Economic Cooperation) . BIMSTEC bridges the gap between South and South East Asia. BIMSTEC does not have a laid down charter. Bangkok Declaration and directions of the Leaders are the guiding principles.
BIMSTEC areas of cooperation Sectors
Lead Country
Trade and Investment
Bangladesh
Technology
Sri Lanka
Energy
Myanmar
Transport and Communication
India
Tourism
India
Fisheries
Thailand
Agriculture
Myanmar
Cultural Cooperation
Bhutan
Environment and Disaster Management
India
Public Health
Thailand
People to People Contact
Thailand
Poverty Alleviation
Nepal
Counter Terrorism and Transnational Crime
India
Climate Change
Bangladesh
BIMSTEC Secretariat MoA signed at the 3rd Summit in Nay Pyi Taw, Myanmar in March 2014. Secretariat
started functioning from 13 September 2014 with the formal inauguration by Bangladesh Prime Minister H E Sheikh Hasina. MoA provides for Secretary General and three Directors to be filled in alphabetical order. Secretariat added momentum to BIMSTEC’s forward movement through monitoring and follow-up of important decisions and by providing all necessary secretariat support to the Member States. Strengthening BIMSTEC process will need strengthening of the Secretariat.
BIMSTEC Institutional Structure Summit:
Highest policy making body of BIMSTEC. 03 (three) Summits held so far: Bangkok (2004), New Delhi (2008), and Nay Pyi Taw(2014). Next Summit due to be held in Kathmandu in 2018. Ministerial Meetings (MM): Second apex forum of BIMSTEC comprising the External/Foreign Ministers of Member States.Fifteen MMs held so far with the last meeting at Kathmandu, Nepal in August 2017. Sectoral Ministerial Meetings: To discuss overall progress in specific sectors of cooperation. Senior Officials’ Meeting (SOM): Functionally the most important policy level organ of BIMSTEC, composed of Foreign Secretaries, held twice a year. So far 18 SOMs held. Joint Working Group (JWG): Forum to discuss specific areas of cooperation. Trade Negotiating Committee (TNC): Responsible for negotiating BIMSTEC FTA Expert Group: To discuss specific areas of cooperation or a sub-sector or any specialised agenda. BWG: Composed of Ambassadors/High Commissioners of Member States. Held 151 meetings, Discontinued since 2017.
Chairmanship of BIMSTEC 1997-1999
Bangladesh
2000
India
2001-2002
Myanmar
2002-2003
Sri Lanka
2004-2005
Thailand
2005-2006
Bangladesh
2006-2008
India
2009-2014
Myanmar
2014-till date
Nepal
Progress in areas of cooperation
Trade and Investment ◦ Framework agreement for establishing the BIMSTEC FTA was signed in 2004 ◦ 20 rounds of TNCs to finalise constituent agreements under BIMSTEC FTA- 4 Agreements in the final stages of negotiation, 3 Agreements under negotiation Counter-Terrorism & Transnational Crime (CTTC): ◦ Terrorism has been identified as the single most significant threat to peace and stability of the region by BIMSTEC. ◦ BIMSTEC Convention on Cooperation in Combating International Terrorism, Transnational Organized Crime and Illicit Drug Traffickingsigned in 2009, awaiting ratification by all the Member States. ◦ Draft of BIMSTEC Convention on Mutual Legal Assistance in Criminal Matters awaiting concurrence from some Member States. ◦ Annual Meetings of National Security Chiefs, meetings of JWG-CTTC and six Sub-Groups under JWG-CTTC for furthering cooperation under CTTC. ◦ Special emphasis on capacity building programme - BFIU, AMLO(Thailand).
Progress in areas of cooperation-contd.
Transport and Communication ◦ BTILS (2007) and Updating and Enhancement of BTILS (2014) ◦ In the process of drafting BIMSTEC Master Plan on Connectivity ◦ In the process of concluding BIMSTEC Coastal Shipping Agreement ◦ Special emphasis by the Member States towards improving border infrastructure. Energy: ◦ MOU on BIMSTEC Grid Interconnection concurred by all Member States. To be signed in next Energy Ministers’ Meeting/ Summit ◦ Plan to develop a Grid Interconnection Master Plan Study ◦ BIMSTEC Energy Centre established in Bengaluru, India Technology: ◦ MoA on the establishment of BIMSTEC Technology Transfer Facility (TTF) has been finalized. Facility will be established at Colombo. Environment and Disaster Management: ◦ The first BIMSTEC Disaster Management Exercise was held in India in October 2017.
BIMSTEC-a positive outlook
Impetus given by the Leaders at Goa Retreat of October 2016. Strategic location between South Asia and South East Asia BIMSTEC has the potential to play a major role in the Indo-Pacific region Major foundations have already been laid in each of the Sectors of cooperation over last twenty years.
Importance of BIMSTEC has been recognized by the World - renewed interest shown in BIMSTEC
Cooperation with other organizations with similar aims and objectives – ADB, UNODC, UNCCT etc.
Thank You
