BIMSTEC and regional cooperation

The main objective of BIMSTEC is technological and economic cooperation among the member countries that border the Bay of Bengal

The industries minister Amir Hossain Amu has stressed the need for boosting mutual cooperation, trade-commerce and investments among the BIMSTEC members to exploit the huge economic potential for sustainable development of the region. BIMSTEC seeks to work around the currently problematical nature of regional integration in South Asia. BIMSTEC, in fact, is a bridge between South Asia and Southeast Asia. Its role is crucial to energising this grouping on the basis of sound bilateral relationships with individual member states. The main objective of BIMSTEC is technological and economic cooperation among the member countries that border the Bay of Bengal. BIMSTEC’s priority areas include terrorism, disaster management, climate change, energy, and cooperation in agriculture. BIMSTEC has acquired a more solid footing as its economic fundamentals are strong with dynamism in growth.

In today’s context, the possibility of enhancing physical, digital and people-to-people connectivity in the region is huge. Similarly, the potential to tap the vast energy resources and scope for intra-regional trade and investment too is enormous. Looking from another perspective, the BIMSTEC can be significant in triggering a cultural and sporting exchange, creating a social link among the nations.

While negotiating a comprehensive economic cooperation agreement, the BIMSTEC group of countries should see how they can have positive spill-over effects on their priority areas of cooperation. There should be special efforts to see how a regional solar grid can be established. In the current global scenario, economic plus social cooperation is pivotal for any nation to maintain stability in growth and, therefore, Bangladesh would be wise to constructively exploit all the arenas opened through this initiative.

In recent times, there have been talks of a super highway linking Bangladesh Myanmar and India. We believe that to make that dream a reality, the platform of BIMSTEC is essential.

However, for BIMSTEC to become an enabler of regional cooperation, it will have to evolve as an organisation that works through a bottom-up rather than a top-down approach. The people-centric approach seems to be the best as BIMSTEC seriously lags behind ASEAN and other regional organisations in terms of people-to-people contacts. Also, the organisation needs to focus on fewer priority areas for purpose of better implementation. It needs to undertake projects that are economically feasible and result-driven. This would add to the credibility of BIMSTEC. As the BIMSTEC region is notable for its diversity, the member states need to build on the regional synergies and work towards utilising the available resources in the most optimal manner. This would help build a stronger and a more dynamic BIMSTEC.

BIMSTEC and regional cooperation

The main objective of BIMSTEC is technological and economic cooperation among the member countries that border the Bay of Bengal

The industries minister Amir Hossain Amu has stressed the need for boosting mutual cooperation, trade-commerce and investments among the BIMSTEC members to exploit the huge economic potential for sustainable development of the region. BIMSTEC seeks to work around the currently problematical nature of regional integration in South Asia. BIMSTEC, in fact, is a bridge between South Asia and Southeast Asia. Its role is crucial to energising this grouping on the basis of sound bilateral relationships with individual member states. The main objective of BIMSTEC is technological and economic cooperation among the member countries that border the Bay of Bengal. BIMSTECs priority areas include terrorism, disaster management, climate change, energy, and cooperation in agriculture. BIMSTEC has acquired a more solid footing as its economic fundamentals are strong with dynamism in growth. In todays context, the possibility of enhancing physical, digital and people-to-people connectivity in the region is huge. Similarly, the potential to tap the vast energy resources and scope for intra-regional trade and investment too is enormous. Looking from another perspective, the BIMSTEC can be significant in triggering a cultural and sporting exchange, creating a social link among the nations. While negotiating a comprehensive economic cooperation agreement, the BIMSTEC group of countries should see how they can have positive spill-over effects on their priority areas of cooperation. There should be special efforts to see how a regional solar grid can be established. In the current global scenario, economic plus social cooperation is pivotal for any nation to maintain stability in growth and, therefore, Bangladesh would be wise to constructively exploit all the arenas opened through this initiative. In recent times, there have been talks of a super highway linking Bangladesh Myanmar and India. We believe that to make that dream a reality, the platform of BIMSTEC is essential. However, for BIMSTEC to become an enabler of regional cooperation, it will have to evolve as an organisation that works through a bottom-up rather than a top-down approach. The people-centric approach seems to be the best as BIMSTEC seriously lags behind ASEAN and other regional organisations in terms of people-to-people contacts. Also, the organisation needs to focus on fewer priority areas for purpose of better implementation. It needs to undertake projects that are economically feasible and result-driven. This would add to the credibility of BIMSTEC. As the BIMSTEC region is notable for its diversity, the member states need to build on the regional synergies and work towards utilising the available resources in the most optimal manner. This would help build a stronger and a more dynamic BIMSTEC.