External Affairs Minister S Jaishankar will be hosting a two-day retreat with his counterparts from BIMSTEC member countries starting Thursday in the national capital. This retreat aims to explore ways to enhance cooperation across various sectors such as security, connectivity, and trade, according to the Ministry of External Affairs (MEA).
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional organisation that brings together seven countries from South and Southeast Asia to collaborate on multiple fronts.
The member countries include India, Sri Lanka, Bangladesh, Myanmar, Thailand, Nepal, and Bhutan. India has been proactive in making BIMSTEC a dynamic platform for regional cooperation, especially as initiatives under SAARC (South Asian Association for Regional Cooperation) have been stagnant for various reasons.
The retreat provides an informal setting for the foreign ministers to discuss avenues for broadening and deepening cooperation in the Bay of Bengal region. This includes discussions on enhancing security measures, improving connectivity, boosting trade and investment, and fostering people-to-people contacts.
The MEA highlighted the significance of this retreat, emphasising that it offers an opportunity for member countries to discuss various cooperative efforts in an informal environment. This is crucial for strengthening ties and addressing regional challenges collaboratively.
The inaugural edition of the BIMSTEC foreign ministers' retreat took place in Bangkok on July 17, 2023. Building on the outcomes of that meeting, the upcoming retreat in India is expected to further the agenda of regional cooperation.
One of the key highlights of the upcoming BIMSTEC summit, scheduled to be held in Thailand later this year, is the anticipated agreement on maritime transport cooperation.
This agreement is expected to significantly boost trade among the BIMSTEC member states by enhancing maritime connectivity and reducing logistical barriers.
The retreat also aims to address other critical areas such as security and economic cooperation. By focusing on these sectors, BIMSTEC member countries hope to create a more integrated and resilient regional framework that can effectively address common challenges and capitalise on shared opportunities.
The two-day retreat hosted by EAM Jaishankar is a pivotal step towards strengthening regional cooperation under the BIMSTEC framework. By fostering dialogue and collaboration among member countries, the retreat aims to pave the way for more robust and dynamic regional partnerships that can contribute to the socio-economic development of the Bay of Bengal region.
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