India hosts BIMSTEC Foreign Ministers amid raging Myanmar crisis

Sub: IR

Sec: Int grouping

Context:

External Affairs Minister S. Jaishankar emphasised that BIMSTEC should find solutions to regional challenges within its framework during the 2nd BIMSTEC Foreign Ministers’ retreat on July 11 in New Delhi.
The first edition was held in Bangkok, Thailand in

Details:

This retreat is the first event since the BIMSTEC Charter came into effect on May 20, marking a significant milestone for the organization. The meeting is significant due to recent developments in Myanmar, where the military junta is facing setbacks against Ethnic Armed Organisations (EAOs), affecting regional projects.
Instability in Myanmar threatens developmental and connectivity projects among BIMSTEC countries like Nepal, Bhutan, India, Bangladesh, Myanmar, and Thailand.

About BIMSTEC:

BIMSTEC is a regional organisation comprising 7 member states – Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and
It was formed in 1997 with the aim of promoting multifaceted technical and economic cooperation among the countries of the Bay of Bengal region.
The region covered by BIMSTEC is home to around 5 billion people, with a combined GDP of over USD 3.8 trillion.
The BIMSTEC Charter was signed and adopted during the Fifth BIMSTEC Summit held in virtual format in Colombo, Sri Lanka, on 30 March 2022. It came into force on 20 May 2024.
Origin:
- The sub-regional organisation was established in 1997 with the adoption of the Bangkok Declaration.
- Initially consisting of 4 Member States, it was known as ‘BIST-EC’ (Bangladesh, India, Sri-Lanka and Thailand Economic Cooperation).
- In 1997, it was renamed ‘BIMST-EC’ after Myanmar
- The admission of Nepal and Bhutan in 2004 led to another name change to the ‘Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation’ (BIMSTEC).

Key Features of the BIMSTEC Charter:

International Recognition: BIMSTEC gains official standing as a legal entity, allowing it to interact directly with other international organisations on matters of diplomacy and cooperation.
Shared Goals: The Charter outlines BIMSTEC’s objectives, which focus on building trust and friendly relations among member states, and accelerating economic development and social progress in the Bay of Bengal region.
Structured Organisation: A clear framework is established for BIMSTEC’s operation, outlining regular meetings at the Summit, Ministerial, and Senior Officials’ levels.
Expanding Membership: The Charter paves the way for future growth by allowing new countries to join BIMSTEC and for other nations to participate as observers.
Re-constitution and reduction in the number of sectors of cooperation to 7 and each member-state will serve as a lead for a sector.
- Bangladesh in Trade, investment and development; Bhutan in environment and climate change; India in security, including energy; Myanmar in agriculture and food security; Neopal in people-to-people contacts; Sri Lanka in science, technology and innovation and Thailand in connectivity.

Source: TH