BIMSTEC - India's Shining Star - Seeker's Thoughts

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BIMSTEC - India's Shining Star

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Introduction- BIMSTEC was founded by Bangkok declaration in 1997, and it stands for Bay of Bengal Initiative for multi sectoral technical and economic cooperation. The organization has following members – Sri Lanka, India, Nepal, Bhutan, India, Myanmar and Thailand.
It Is an International Organization between South Asia and South East Asia. These member countries are dependent upon the bay of Bengal.
A free trade agreement is under negotiation in 2018. The permanent Secretariat is in Dhaka (opened in 2014) and there 14 identified sector for cooperation
Objective – Technical and Economic Cooperation along the coast of Bay of Bengal. Commerce Investment, technology , tourism, Human Resource Development, agriculture, fisheries, transport
and communication etc are the part of cooperation and training and research. These countries provide mutual assistance to one another in area of common interest.
Who stays the chairman?
It uses the alphabetical order. 14 Priority Areas are lead by different nations to lead the efforts.
Partner- Asian Development Bank has become a partner of BIMSTEC in 2005 to undertake the “BIMSTEC Transport and Logistic Study”.
India and BIMSTEC- India provides 33% of its expenditure as well as India leads in Transport and communication, Tourism, Counter terrorism and transnational Crime , Environment and Disaster Management. 
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India has been growing at faster pace in recent times and needs products for consumptions, assistance for growth, and some technology to share. India’s ambitions to connect with the region often don’t remain so stable and smooth because among other groups like SAARC and SCO- Pakistan and India come to conflicts and relations don’t run smooth. BIMSTEC can play a vital role as countries share the same interest and India had better relations with these countries since ancient time.