The implementation of the BIMSTEC Charter will boost regional cooperation

New Delhi. The implementation of the BIMSTEC Charter will increase regional cooperation and this step will prove to be a milestone for the member countries. This charter provides a legal and institutional framework for all member countries to work together, which will further improve coordination among the members.

May 26, 2024 - 22:03
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The implementation of the BIMSTEC Charter will boost regional cooperation
The implementation of the BIMSTEC Charter will boost regional cooperation

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Charter has recently come into force on 20 May, 27 years after the group was first conceived. Apart from India, BIMSTEC includes Sri Lanka, Bangladesh, Myanmar, Thailand, Nepal and Bhutan. Let us tell you that in the past years, India has made concrete efforts to make BIMSTEC a platform for regional cooperation.

In this regard, External Affairs Minister Dr. S. Jaishankar wrote on 'X' that the implementation of the BIMSTEC Charter confirms India's commitment as a prosperous, peaceful and sustainable neighbor. He said that BIMSTEC reflects India's Neighborhood First and Act East policies. At the same time, Foreign Ministry spokesperson Randhir Jaiswal has described the implementation of the charter as important and said that this will enhance the partnership of BIMSTEC with other countries. It will also help in accepting new members in the group.

In fact, all the members of BIMSTEC signed the charter at the fifth BIMSTEC summit held virtually in Colombo on 30 March 2022, but it could come into force only when each country ratified the document, a process which was finally completed in April 2024.

BIMSTEC countries account for 22 percent of the world's total population and their combined gross domestic product (GDP) is around $3.6 trillion. The charter will establish a solid legal and institutional framework for better cooperation among the seven countries around the Bay of Bengal.

(Report. Shashwat Tiwari)

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