Skip to main content

WHAT IS BIMSTEC and how india seeks closer BIMSTEC partnership??

 India seeks closer BIMSTEC partnership

Addressing the ministerial of the BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation), EAM S. Jaishankar urged closer cooperation and connectivity among the members.


What is BIMSTEC?


The BIMSTEC formed in 1997 is an international organisation of seven South Asian and Southeast Asian nations, housing 1.73 billion people and having a combined gross domestic product of $3.8 trillion (2021).
The BIMSTEC member states - Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand - are among the countries dependent on the Bay of Bengal.
Leadership is rotated in alphabetical order of country names. The permanent secretariat is in Dhaka, Bangladesh.
A BIMSTEC free trade agreement is under negotiation (c. 2018), also referred to as the mini SAARC.

Objectives of BIMSTEC


There are 14 main sectors of BIMSTEC along technological and economic cooperation among South Asian and Southeast Asian countries along the coast of the Bay of Bengal.

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

About the proposed BIMSTEC FTA Framework


The BIMSTEC FTA has been signed by all member nations to stimulate trade and investment in the parties, and attract outsiders to trade with and invest in the BIMSTEC countries at a higher level.
Subsequently, the "Trade Negotiating Committee" (TNC) was set up, with Thailand as the permanent chair, to negotiate in areas of trade in goods and services, investment, economic co-operation, trade facilitations and technical assistance for LDCs.
Once negotiation on trade in goods is completed, the TNC would then proceed with negotiation on trade in services and investment.
Others

(1) BIMSTEC Coastal Shipping Agreement draft


It was discussed on 1 December 2017 in New Delhi, to facilitate coastal shipping within 20 nautical miles of the coastline in the region to boost trade between the member countries.
Compared to the deep sea shipping, coastal ship require smaller vessels with lesser draft and involve lower costs.
Once the agreement becomes operational after it is ratified, a lot of cargo movement between the member countries can be done through the cost effective, environment friendly and faster coastal shipping routes.

(2) BIMSTEC Master Plan for Transport Connectivity


The BIMSTEC Master Plan for Transport Connectivity, finalized under India's chairmanship of the expert group last year, envisages a seamless multimodal transport system across the region.
This will stimulate intra-regional trade and investment in the region.
It identifies 264 projects requiring an investment of $ 126 billion over a ten year horizon from 2018-2028.
Labels:

Comments

Post a Comment

Popular posts from this blog

Super Veggie Bowl & Nutty Pudding: Bryan Johnson’s Anti-Aging Recipes for Longevity

Why Bryan Johnson’s Recipes Matter Bryan Johnson, the entrepreneur known for his focus on health and longevity, has created daily meals designed to slow aging and boost vitality. His approach combines nutrient density with science-backed ingredients to fuel the body, protect cells, and support long-term health. Two standout recipes in his routine are the  Super Veggie bowl for lunch  and the  Nutty Pudding for dessert . The Super Veggie Bowl: A Nutrient Power Lunch This colorful bowl is packed with plant-based goodness and carefully chosen ingredients to maximize energy and cellular health. Key ingredients often include: Black lentils for plant protein and fiber Cruciferous vegetables like broccoli and cauliflower for antioxidants Shiitake or maitake mushrooms for immune support Garlic and ginger for anti-inflammatory benefits Hemp seeds and extra-virgin olive oil for healthy fats Fresh lime and apple cider vinegar for flavor and gut support Cooked with a focus on preserv...
Post a Comment
Read more

10 Best Morning Habits for Weight Loss That Actually Work

Introduction If you’ve ever started a weight loss journey, you know the mornings can make or break your day. Maybe you wake up feeling tired, hit snooze too many times, or grab whatever food is easiest on your way out the door. The problem is, these small choices often snowball into cravings, low energy, and overeating later in the day. The good news? A few intentional  morning habits for weight loss  can completely change your momentum. By setting the right tone early, you’ll give your body the energy, focus, and metabolism boost it needs to burn fat more effectively. Let’s go through 10 habits you can start tomorrow morning. 10 Morning Habits for Weight Loss 1. Start with Hydration Drinking a glass of water first thing in the morning helps kickstart digestion, flush out toxins, and keep cravings in check. Add a squeeze of lemon for extra antioxidants and digestive support. 2. Get Moving (Even if It’s Just 10 Minutes) A quick walk, yoga flow, or bodyweight workout gets your b...
Post a Comment
Read more

Top 10 Metabolism Boosting Foods (and What Really Works for Lasting Results)

Introduction:  Why Your Metabolism Feels “Stuck” If you’ve ever felt frustrated because diets don’t seem to work for you, you’re not alone. Many people eat less, work out more, and still don’t see results. The truth is, most diets fail because they focus only on cutting calories instead of supporting your metabolism. When your metabolism slows down, your body holds onto fat, making it harder to lose weight and easier to feel drained. The good news? You can give your metabolism a natural boost with the right foods—and when combined with smarter nutrition strategies, you’ll finally feel like your effort is paying off. Top 10 Metabolism Boosting Foods Here are some everyday foods that can naturally support your metabolism and energy: Lean Protein (Chicken, Turkey, Fish, Eggs) Protein takes more energy to digest, which means your body burns more calories breaking it down. It also helps preserve muscle, which keeps metabolism strong. Green Tea Packed with antioxidants and compounds like...
Post a Comment
Read more