BIMSTEC Completes 25 years of the Journ

Taking the BIMSTEC Route to Prosperity: The Grouping’s Moment has arrived as SAARC Fades on the Sub-regional Front

The unique regional grouping linking five countries of South Asia (India, Bangladesh, Nepal, Bhutan and Sri Lanka) and two countries of Southeast Asia (Thailand and Myanmar) holds its long-awaited fifth summit in Colombo on March 30. On it rides a hefty burden of expectations to advance regional cooperation. Meticulous preparations behind the scenes have created an atmosphere of hope for its success.

Building ambition

BIMSTEC (Bay of Bengal Multi-Sectoral Technical and Economic Cooperation) completes 25 years of the journey that began in Bangkok in June 1997. Until 2014, it was a low-profile, unassuming sub-regional grouping that had much to be modest about. But as hopes of Saarc cooperation faded, India took a bold initiative that helped the smaller grouping to develop ambition. The leaders of BIMSTEC were invited to a historic retreat for deep reflection; they also interacted with the Brics leaders. This was in Goa in October 2016. Two years later, BIMSTEC felt adequately confident to project itself as a dynamic regional grouping, ready to work for “a peaceful, prosperous and sustainable Bay of Bengal Region”. It should. It represents 1.7 billion people and a combined GDP of $3.8 trillion, which can accelerate economic development through greater integration.