Entry into force of BIMSTEC charter expected to bolster regional cooperation
Jaishankar hailed the entry into force of the BIMSTEC charter, saying the development reaffirms India’s commitment to a prosperous and sustainable neighbourhood
NEW DELHI: The charter of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), which has come into force, is expected to give a fillip to India’s efforts to bolster its position as a key grouping in the region.
External affairs minister S Jaishankar hailed the entry into force of the BIMSTEC charter on Wednesday, saying the development reaffirms India’s commitment to a prosperous, peaceful and sustainable neighbourhood.
“It is achieved by building on our shared history, culture, vision and mutual respect for each other. BIMSTEC reflects the synthesis of our Neighbourhood First and Act East policies!” he said in a post on X.
The BIMSTEC charter, which entered into force on May 20, articulates the long-term vision and priorities of the member states – Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand – and establishes the legal and institutional framework for cooperation in the region.
The charter also confers legal personality on the grouping, enables the admission of new members and observers, and enables the conclusion of agreements with countries or sub-regional, regional and international organisations and institutions.
The development is a “significant milestone” and provides a framework for meaningful cooperation and deeper integration of the Bay of Bengal region, external affairs ministry spokesperson Randhir Jaiswal said in a post on X.
The BIMSTEC charter was signed and adopted during the fifth summit of the grouping in Colombo, Sri Lanka, in March 2022. With the endorsement of the charter by Nepal’s Parliament in April this year, all member states completed the ratification of the foundational document and the charter came into force.
The adoption and coming into force of the charter is a testament to the shared commitment of member states to promote regional cooperation in key sectors such as security, connectivity, trade, agriculture, environment, science and technology, agriculture and people-to-people contacts.
The seven members of BIMSTEC are home to nearly 22% of the global population and have a combined GDP of $3.6 trillion.
With cooperation under the South Asian Association for Regional Cooperation (Saarc) having stalled because of differences between India and Pakistan, New Delhi has sought to bolster regional cooperation under BIMSTEC and BBIN, which includes Bangladesh, Bhutan, India and Nepal.
