BIMSTEC Senior Officials Meeting (SOM)
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BIMSTEC Senior Officials Meeting (SOM)

Context: 

Recently, the Ministry of External Affairs represented India at the 24th BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) Senior Officials Meeting (SOM), which was hosted virtually by Thailand on 19 December 2024.

About BIMSTEC:

  • It was established in 1997 with the adoption of the Bangkok Declaration.
  • It aims to promote multifaceted technical and economic cooperation among countries in the Bay of Bengal region.
  • During the 3rd BIMSTEC Summit held in Myanmar, the BIMSTEC Secretariat was established in Dhaka, Bangladesh.
  • It is a regional organization comprising seven member states: Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand.
  • It is a five-tiered organization and structure includes the Summit (Heads of State/Government), Ministerial Meeting (Foreign Ministers), Sectoral Ministerial Meetings (Ministers of relevant sectors), Senior Officials Meeting (Foreign Secretaries/Senior Officials), and the BIMSTEC Permanent Working Committee (Senior Officials from National Focal Points).
  • Initially, it included four member states—Bangladesh, India, Sri Lanka, and Thailand—under the name “BIST-EC” (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation).
  • The organization’s name was changed to “BIMST-EC” in 1997 when Myanmar joined.
  • Following the admission of Nepal and Bhutan in 2004, the organization was renamed the “Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation” (BIMSTEC), reflecting the expanded membership and its broader regional focus.

Areas of Cooperation:

  • BIMSTEC is a sector-driven cooperative organization, initially focusing on six areas: Trade, Technology, Energy, Transport, Tourism, and Fisheries.
  • It encompasses 14 priority areas, with Climate Change added in 2008 as the 14th.
  • Each member country takes the lead in specific areas, with India leading in Transport & Communication, Tourism, Environment & Disaster Management, and Counter-Terrorism & Transnational Crime.

Importance of BIMSTEC:

  • The seven BIMSTEC countries, representing around 22% of the world’s population, and the GDP of BIMSTEC countries is currently about US$ 4.5 trillion but the region can achieve faster future growth rates through better economic.
  •  Between 2012 and 2016, these countries experienced average annual growth rates ranging from 3.4% to 7.5%.
  • A quarter of the world’s traded goods pass through the Bay of Bengal annually.

Significance of BIMSTEC for Member Countries:

  • Bangladesh views BIMSTEC as a platform to enhance its regional influence.
  • Sri Lanka sees BIMSTEC as a way to connect with Southeast Asia and serve as a hub for the Indo-Pacific.
  • Nepal and Bhutan aim to overcome their landlocked positions by connecting with the Bay of Bengal region.
  • Myanmar and Thailand benefit from deeper ties with India, gaining access to a growing consumer market while balancing China’s influence in Southeast Asia.
  • India, the region’s largest economy, uses BIMSTEC to advance its foreign policy priorities, including Neighbourhood First and Act East.
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