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Topic : BIMSTEC Charter: A Milestone for Bay of Bengal Cooperation

GS-2 Mains :IR

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BIMSTEC Comes of Age

• The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) can now admit new members and observers following the entry into force of its first charter.

Background:

• Established in 1997 (Bangkok Declaration).
• 7 Member Countries: Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, Thailand.
• Secretariat: Dhaka, Bangladesh.
• Significance:
  • 22% of world population.
  • Combined GDP of $3.6 trillion.

About the BIMSTEC Charter:

• Establishes a legal and institutional framework for cooperation among member states.
• Grants BIMSTEC a legal personality.
• Enables:
  • Admission of new members and observers.
  • Negotiations and agreements with other countries/regional organizations.

Key Charter Points:

• Decision Making: Consensus among members.
• New Member Admission:
  • Clear process.
  • Geographical contiguity or primary dependence on Bay of Bengal for trade/transport.
• Leadership:
  • Summits every two years.
  • Rotational chairmanship.
  • Ministerial meetings can set further criteria.

BIMSTEC vs. SAARC:

• Both focus on overlapping regions, but differ in scope:
  • SAARC (1985): Purely South Asian.
  • BIMSTEC: Inter-regional, connecting South Asia and ASEAN.
• BIMSTEC avoids the India-Pakistan rivalry that burdens SAARC.
• India is accused by Nepal of neglecting SAARC in favor of BIMSTEC (due to Pakistan’s membership).

SAARC (South Asian Association for Regional Cooperation):

• Established in 1985.
• Secretariat: Kathmandu, Nepal.
• Aims: Accelerate economic and social development through regional cooperation.
• Members: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, Sri Lanka.

The Way Forward:

• The BIMSTEC Charter signifies a shared commitment to regional cooperation in:
  • Security
  • Connectivity
  • Trade
  • Agriculture
  • Environment
  • Science & Technology
  • People-to-People Contact
• It is a crucial step towards:
  • Promoting regional cooperation.
  • Enabling agreements with other countries and regional organizations.

Source : https://www.thehindu.com/news/national/bimstec-acquires-legal-personality-after-charter-comes-into-force/article68204638.ece