Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC)
It is a regional multilateral organisation
Its members lie in the littoral and adjacent areas of the Bay of Bengal constituting a contiguous regional unity.
It came into being in 1997 through the Bangkok Declaration.
Initially, it was formed with four Member States with the acronym ‘BIST-EC’ (Bangladesh, India, Sri-Lanka and Thailand Economic Cooperation).
It became renamed ‘BIMST-EC’ in 1997, following the inclusion of Myanmar.
With the admission of Nepal and Bhutan in 2004, the name of the grouping was changed to ‘Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation’ (BIMSTEC)
At present 7 members :
Five are from South Asia - Bangladesh, Bhutan, India, Nepal, Sri Lanka
Two are from Southeast Asia – Myanmar, Thailand
Strengthening India's ties with its eastern neighbors
India remains intent on solidifying relations with its eastern neighbours as China’s growing presence in the Bay of Bengal poses a potential threat
Strengthening ties with Bangladesh and Myanmar accords India the advantage of providing its landlocked north-eastern region with access to the sea.
Improved ties with Myanmar and Thailand will also lend India the opportunity to have a more profound presence in the Indo-Pacific, as it holds the ASEAN membership
Neighbourhood First policy
Focus on building stronger relationships, promoting regional cooperation, and addressing shared issues with its immediate neighbours.
The concept came into being in 2008
Significance
Countering Chinese Influence
Support in Multilateral Fora
Ensuring Territorial Integrity
Enhancing Maritime Security
Addressing Energy Security
Bridging Development Deficits
Leveraging Soft Power Diplomacy
Act East Policy
Act East Policy
The ‘Act East Policy’ announced in November, 2014 is the upgrade of the “Look East Policy”.
It is a diplomatic initiative to promote economic, strategic and cultural relations with the vast Asia-Pacific region at different levels.
It involves intensive and continuous engagement with Southeast Asian countries in the field of
connectivity, trade, culture, defence and people-to-people-contact at bilateral, regional and multilateral levels
Act East Policy focused on ASEAN countries + Economic Integration + East Asian countries + Security cooperation.
Prime minister of India highlighted 4C's of Act East Policy.
Culture
Commerce
Connectivity
Capacity building
Security is an important dimension of India's Act East Policy
SAGAR vision
In 2015, India unveiled it's strategic vision for the Indian Ocean i.e. Security and Growth for All in the Region (SAGAR)
Through SAGAR, India seeks to deepen economic and security cooperation with its maritime neighbours and assist in building their maritime security capabilities.
For this, India would cooperate on the exchange of information, coastal surveillance, building of infrastructure and strengthening their capabilities
SAGAR provides a mechanism for India to expand strategic partnerships with IOR littorals in Asia and Africa
Need for SAGAR Vision
Leveraging Blue Economy
Tackling Regional Issues
Checking Chinese Influence
COMMENTS