Brief Context
PM Modi attended the 6th BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) Summit, hosted by Thailand, which is the current chair.
Source Content
Syllabus GS2/IR
Context
- PM Modi attended the 6th BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) Summit, hosted by Thailand, which is the current chair.
About
- Theme: “BIMSTEC: Prosperous, Resilient, and Open”
- Focus on shared growth amid global uncertainties.
- The BIMSTEC Summit is the first in-person meeting in seven years.
- The chairmanship of the regional grouping was handed over to Bangladesh.
India-led Initiatives:
- Prime Minister Narendra Modi proposed a 21-point action plan.
- Mitigation and Disaster Management:
- Establishing the BIMSTEC Centre of Excellence for Disaster Management in India to cooperate in disaster management, relief and rehabilitation.
- Fourth joint exercises between BIMSTEC Disaster Management Authorities to be held in India this year.
- BODHI Program for skilling youth: BODHI [BIMSTEC for Organized Development of Human Resource Infrastructure] under which training and scholarships would be provided to professionals, students, researchers, diplomats and others.
- 300 youths from BIMSTEC countries in India every year.
- To Strengthen people-to-people linkages: India to host BIMSTEC Athletics Meet (this year).
- First BIMSTEC Games in 2027
- BIMSTEC Traditional Music Festival.
- Youth-focused initiatives: Young Leaders’ Summit, Hackathon, Young Professional Visitors program.
- Pilot study on Digital Public Infrastructure, cancer care capacity building.
- Proposal for BIMSTEC Chamber of Commerce and Business Summit.
- Proposed establishing connectivity between India’s Unified Payments Interface (UPI) and the payment systems of BIMSTEC member states.
- Such integration would bring substantial benefits across trade, industry and tourism, enhancing economic activity at all levels.
- Space Sector: Build nano-satellites for the BIMSTEC member nations and also explore the setting up of ground stations and promote the use of remote sensing data.
- Sustainable Maritime Transport Centre: Proposed the establishment of a Sustainable Maritime Transport Centre in India to enhance coordination in capacity building, research, innovation and maritime policies.
Summit Outcomes:
- BIMSTEC Bangkok Vision 2030: It’s the first long-term plan to make BIMSTEC more prosperous, strong, and open by the year 2030.
- The vision focuses on improving trade, transport links, and people’s safety and well-being
- Rules of Procedure for BIMSTEC: This sets clear rules for how BIMSTEC will work, helping the group to function more smoothly and efficiently.
- Report by the BIMSTEC Eminent Persons’ Group: This report gives helpful suggestions for how BIMSTEC should move forward, in line with the 2030 vision.
- Agreement on Maritime Transport Cooperation: A new agreement was signed to improve sea transport between South and Southeast Asia.
- This will help reduce shipping costs, make trade faster, and make it easier for goods and people to move across the region
About BIMSTEC
- It is a regional cooperation organization formed in 1997 with the signing of the Bangkok Declaration.
- It unites South and Southeast Asian nations bordering the Bay of Bengal.
- Founding Members (1997): Bangladesh, India, Sri Lanka, Thailand.
- Current Members: It comprises seven member states, Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand.
- Objective: To help countries in their economic growth, to support social development, and to encourage development in other areas, like science, technology and economic development.
Source: MEA