BIMSTEC eyes greater maritime connectivity

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) aims to strengthen shipping connectivity and port infrastructure across the Bay of Bengal region.

In this connection, a Maritime Transport Cooperation Agreement was signed during the last Bangkok summit, to streamline port procedures, enhance shipping links and modernise port facilities among the seven member states.

Its implementation would ‘open up a new horizon in fostering regional connectivity’, BIMSTEC Secretary General Indra Mani Pandey told The Financial Express.

The maritime pact marks one of the most concrete outcomes for BIMSTEC, which was established in 1997 to promote technical and economic cooperation among South and Southeast Asian countries bordering the Bay of Bengal. Pandey said the existing BIMSTEC master plan on transport connectivity is currently being updated to reflect evolving regional priorities.

The grouping comprises Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand,

BIMSTEC’s recent engagements at the 4th Bay of Bengal Economic Dialogue and the India Energy Week in Goa last month highlighted the strategic rationale for deeper regional cooperation at a time of heightened geopolitical uncertainty. According to Pandey, discussions focused on the need for collective responses to global and regional challenges.

“Emphasis was placed on collective action to achieve the Sustainable Development Goals, address the energy transition needs of the Global South, and promote green and sustainable energy pathways that balance growth, resilience and reduced carbon intensity,” he said.

Efforts to deepen economic integration are continuing through negotiations on a proposed BIMSTEC Free Trade Agreement (FTA), although progress remains uneven. Pandey acknowledged the challenges involved in finalising the pact but noted advances in specific tracks, particularly in customs cooperation and trade facilitation. He said such negotiations are complex and typically require time.

The ongoing FTA talks are increasingly focused on strengthening business-to-business linkages and establishing a BIMSTEC Chamber of Commerce. Expert groups are also reviewing proposals for inter-grid electricity connectivity, integration of digital payment systems and the use of local currencies for trade settlement.

“There is strong confidence about making progress,” Pandey said, adding that member states are revisiting the idea of prioritising trade in agricultural commodities, an area where intra-regional exchange already exists and could be expanded relatively quickly.

Beyond trade and connectivity, BIMSTEC has reported advances in the security domain. Pandey outlined progress made under the joint working group on counter-terrorism, transnational crime and drug trafficking. Subgroups dealing with human trafficking, cybersecurity and the financing of terrorism have made significant headway, he said.

Meetings of national security advisers, initiated in 2017, have increasingly focused on maritime security and cooperation in the Bay of Bengal. A convention on counter-terrorism, drug trafficking and organised transnational crime has been signed and ratified by several member states.

Addressing concerns that bilateral tensions among some members could impede progress, Pandey said BIMSTEC continues to move forward despite political differences, stressing that leaders of all seven countries remain committed to advancing the organisation’s agenda.

On climate cooperation, the 4th Meeting of the BIMSTEC Joint Working Group on Environment and Climate Change held recently strengthened the bloc’s institutional foundation by finalising its terms of reference, reviewing implementation of the BIMSTEC Plan of Action and advancing discussions on climate finance mobilisation and other priority initiatives.

mirmostafiz@yahoo.com