The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) recently held its second Agriculture Ministerial-level meeting, hosted by India. This regional organisation consists of seven Member States with five from South Asia (Bangladesh, Bhutan, India, Nepal, Sri Lanka) and two from Southeast Asia (Myanmar and Thailand).
Key Outcomes of the Meeting
During this meeting, India urged member countries to cooperate in developing a comprehensive regional strategy to strengthen cooperation for agricultural transformation. Furthermore, India emphasized the adoption of a healthy diet for all, highlighting the significance of millet as a nutritious food. Promoting natural and ecological farming was also a priority to conserve agricultural biodiversity and reduce chemical usage.
The emphasis was further laid on digital farming and precision farming, marking India’s ongoing initiatives under the ‘One Health’ approach. The meeting also reflected on India’s declaration at the 5th BIMSTEC Summit, held in Colombo in March 2022, aiming to enhance regional cooperation for food security, peace and prosperity.
The BIMSTEC Agreement and MoU
An Action Plan for Strengthening BIMSTEC Agricultural Cooperation (2023-2027) was adopted during the meeting. A Memorandum of Understanding (MoU) was also signed between the BIMSTEC Secretariat and the International Food Policy Research Institute (IFPRI) to incorporate fisheries and livestock sub-sectors under the Agricultural Working Group.
About BIMSTEC
Incepted on June 6, 1997, through the Bangkok Declaration, BIMSTEC comprises about 22% of the global population with a combined Gross Domestic Product (GDP) of a 2.7 trillion economy. The BIMSTEC Secretariat is located in Dhaka. The organisation’s institutional mechanisms include the BIMSTEC Summit, Ministerial Meeting, Senior Officials’ Meeting, BIMSTEC Working Group, Business Forum and Economic Forum.
Significance of BIMSTEC
With its abundant natural and human resources, historical linkages and rich cultural heritage, BIMSTEC holds vast potential for development cooperation. It stands as a strategic pivot in the Indo-Pacific region, serving as a bridge between South and Southeast Asia’s high-growth centres.
Challenges Faced by BIMSTEC
Despite the potential, BIMSTEC grapples with challenges like inconsistent meetings, neglect from member states, wide focus areas, bilateral issues among member nations, and an inadequate focus on economic cooperation. The formation of the Bangladesh-China-India-Myanmar (BCIM) Forum has also raised doubts about the exclusive potential of BIMSTEC.
Way Forward for BIMSTEC
BIMSTEC needs to finalize the Free Trade Agreement among the member countries. Emphasising health and economic security, this agreement will strengthen the Bay of Bengal as a bridge for connectivity, prosperity and security. To counter the impression of being India-dominated, BIMSTEC should aim at fostering closer ties in blue economy, digital economy, and exchanges among start-ups and MSMEs.
BIMSTEC Comparison with SAARC
There are debates whether BIMSTEC is a parallel organisation to the South Asian Association for Regional Cooperation (SAARC). Regardless of the similarities and dissimilarities, the formation of this new organisation plays a crucial role in realizing India’s foreign policy objectives.
