PM Modi Attends BIMSTEC Summit in Thailand; Discusses Earthquake with Myanmar’s Military Leader
Bangkok, April 4 – Prime Minister Narendra Modi has arrived in Thailand for the second day of his visit to attend the 6th BIMSTEC Summit. Upon his arrival, he was warmly welcomed by Thailand’s Prime Minister, Srettha Thavisin.
Earlier today, PM Modi met Myanmar’s military leader, General Min Aung Hlaing, where he expressed condolences for the victims of the recent earthquake in Myanmar. He assured that India is making every effort to provide necessary assistance.
Later in the day, PM Modi is expected to hold discussions with Bangladesh’s Chief Advisor, Mohammad Yunus. The two leaders were seen together at the BIMSTEC dinner last night. This marks the first high-level meeting between the Indian Prime Minister and a Bangladeshi government representative since the political shift in Bangladesh last August.
What is BIMSTEC and Why is it Important for India?
Following the Cold War and the collapse of the Soviet Union in the 1990s, globalization compelled nations to strengthen economic ties. While ASEAN served as a strong economic organization in Southeast Asia, countries like India, Bangladesh, and Sri Lanka lacked a regional economic platform.
In 1994, former Thai Foreign Minister Thanat Khoman proposed a regional group to bridge South and Southeast Asia. Under Thailand’s “Look West Policy” and India’s “Look East Policy,” BIMSTEC was officially established in 1997.
The Formation and Growth of BIMSTEC
Initially known as BIST-EC (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation), the group expanded with Myanmar joining in 1997, followed by Bhutan and Nepal in 2004. BIMSTEC now comprises seven nations: Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand.
Though Nepal and Bhutan lack coastal access, they were included due to their significant hydropower resources.
India’s Shift from SAARC to BIMSTEC
India’s focus on BIMSTEC increased following the failure of the 2014 SAARC Summit in Nepal. Pakistan’s repeated obstruction of key agreements in SAARC, including transit and connectivity deals, led India to prioritize BIMSTEC. Unlike SAARC, BIMSTEC does not grant veto power to any member state, preventing deadlocks in decision-making.
After the 2016 Uri terror attack, India and other SAARC members, including Bangladesh, Bhutan, and Afghanistan, boycotted the SAARC Summit in Islamabad. Since then, no SAARC summit has been held, further pushing India towards strengthening BIMSTEC.
Challenges Facing BIMSTEC
Despite its potential, BIMSTEC faces several challenges:
- Pending Free Trade Agreement (FTA): Though an FTA was agreed upon in 2004, it has yet to be implemented.
- Delayed Institutional Development: It took 25 years to adopt a formal charter, slowing decision-making.
- Regional Tensions: Disputes between Bangladesh and Myanmar, as well as India and Bangladesh, pose obstacles.
- ASEAN Preference: Thailand and Myanmar prioritize ASEAN over BIMSTEC.
Additionally, smaller economies within BIMSTEC fear that a free trade agreement could threaten their local industries by allowing stronger economies like India and Thailand to dominate trade.
As China expands its Belt and Road Initiative (BRI) in the region, India sees BIMSTEC as a strategic countermeasure. With 80% of maritime oil trade and 40% of global trade passing through the Indian Ocean, the Bay of Bengal’s geopolitical significance continues to rise.
PM Modi’s presence at the BIMSTEC Summit signals India’s commitment to deepening regional cooperation and strengthening ties with its eastern neighbors.
