BANGKOK VISION 2030 – INTERNATIONAL
News: BIMSTEC to adopt Bangkok Vision 2030 at next summit
What is in the news?
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Recently, an officer from
the Ministry of External affairs said that the Bay of Bengal Initiative for
Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) summit at the end
of this year will adopt Bangkok Vision 2030.
Importance of BIMSTEC to India:
1. Counter dominance of China:
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The grouping allows India
to counter China’s creeping influence in countries around the Bay of Bengal due
to the spread of its Belt and Road Initiative.
2. Engagement with Southeast Asia:
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BIMSTEC platform can be
used as the bridge to connect South Asia and Southeast Asia.
3. North East India development:
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The grouping also
provides opportunities for economic development of India’s northeastern states
– by linking them to the Bay of Bengal region via Bangladesh and Myanmar.
4. Platform to manifest its foreign policy:
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BIMSTEC allows India to
pursue two core policies- Neighborhood First (primacy to the country’s
immediate periphery), Act East (connect India with Southeast Asia) and Security
& Growth for all In the Region (SAGAR).
5. Alternative of SAARC:
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The persistent
differences between India and Pakistan in the South Asian Association of
Regional Cooperation (SAARC) have crippled the organization.
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As BIMSTEC comprises
similar members excluding Pakistan, it can improve greater cooperation in the
region.
Challenges with the BIMSTEC:
1. No consisting in meeting:
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BIMSTEC planned to hold
summits every two years, ministerial meetings every year, but only four summits
have taken place in 20 years up to 2018.
2. Non interest among members:
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It seems that India has
used BIMSTEC only when it fails to work through SAARC in the regional setting
and other major members like Thailand and Myanmar are focused more towards
ASEAN than BIMSTEC.
3. Bilateral Issues between Member Nations:
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Bangladesh is facing one
of the worst refugee crises of Rohingyas from Myanmar who are fleeing
prosecution in the state of Rakhine in Myanmar. There is a border conflict
between Myanmar and Thailand.
4. BCIM:
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The formation of another
sub-regional initiative, the Bangladesh-China-India-Myanmar
(BCIM) Forum, with the proactive membership of China, has created more doubts
about the exclusive potential of BIMSTEC.
5. Big brother attitude:
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Allegations are made on
India for playing a dominant role in the organization and neglecting the
agendas of small states.
6. Inadequate Focus on Economic Cooperation:
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A quick look at the
unfinished tasks and new challenges gives an idea of the burden of
responsibilities on the grouping.
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Despite signing a
framework agreement for a comprehensive Free Trade Agreement (FTA) in 2004,
BIMSTEC stands far away from this goal.
WAY FORWARD:
1. Adoption of proposed agreements:
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Member states should
adopt the proposed agreements in the upcoming BIMSTEC summit. This will boost
the confidence of the organization.
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EG.
BIMSTEC coastal shipping agreement and Motor vehicle agreement.
2. Institutional hedging:
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The group should develop
its collective soft and hard power.
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it will protect
individual interests and shape up a regional order.
3. Focus on upcoming areas:
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BIMSTEC should focus more
in the future on new areas such as the blue economy, the digital economy, and
promotion of exchanges and links among start-ups and Micro, Small and Medium
Enterprises (MSMEs).
4. Free Trade Agreement:
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The organization should
explore opportunities for a free trade agreement (FTA) to boost regional trade
and investment.
Bay of Bengal Initiative for Multi-Sectoral Technical
and Economic Cooperation (BIMSTEC):
About:
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The BIMSTEC is a regional
organization exclusively focusing on the Bay of Bengal littoral areas.
Year:
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It was established in 1997 through the Bangkok Declaration.
Members:
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It consisted of seven members.
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five from South Asia,
including Bangladesh, Bhutan, India,
Nepal, Sri Lanka and two from Southeast Asia, including Myanmar and Thailand.
Headquarters:
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Dhaka, Bangladesh
Objectives:
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Creating an enabling
environment for the rapid economic
development of the sub-region.
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Encouraging the spirit of equality and partnership.
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Promoting active
collaboration and mutual assistance in
the areas of common interests of the member countries
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Accelerating support for
each other in the fields of education, science, and technology, etc.
Principles:
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Sovereign Equality
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Territorial Integrity
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Political Independence
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No-interference in
Internal Affairs
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Peaceful Co-existence
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Mutual Benefit
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Constitute an addition to
and not be a substitute for bilateral, regional or multilateral cooperation
involving the Member States.