India Hosts BIMSTEC Foreign Ministers Meeting

• Establishment: The South Asian Association for Regional Cooperation (SAARC) was established with the signing of the SAARC Charter in Dhaka on 8 December 1985.
• Members: SAARC comprises of eight member States: Afghanistan, Bangladesh, Bhutan ,India, Maldives, Nepal, Pakistan and Sri Lanka
• Principal Organs of Cooperation: 
  • Meeting of Heads of State or Government: Held at the Summit level annually.
  • Standing Committee of Foreign Secretaries: Monitors and coordinates cooperation, sets priorities, mobilises resources, and approves projects and financing.
  • Secretariat: Established in Kathmandu on January 16, 1987. 
    • Coordinates and monitors SAARC activities, services association meetings, and facilitates communication with international organisations. 

BIMSTEC Vs SAARC 

• Geographic Focus: 
  • Both SAARC and BIMSTEC focus on regions that overlap geographically.
• Organisational Scope: 
  • SAARC is a purely regional organisation.
  • BIMSTEC is interregional, bridging South Asia and ASEAN.
• Complementary Functions and Goals: SAARC and BIMSTEC complement each other in terms of their functions and goals.

Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC)

• Background:
  • Adoption of the Bangkok Declaration: It was founded as BIST-EC, in June 1997, with the adoption of the Bangkok Declaration, with Bangladesh, India, Sri Lanka and Thailand as members. 
  • Entry of Myanmar: It became BIMST-EC (Bangladesh, India, Myanmar, Sri Lanka and Thailand Economic Cooperation) with the entry of Myanmar in late 1997.
  • Membership of Nepal and Bhutan: It was named in its current form, when Nepal and Bhutan became members in 2004.
• About: BIMSTEC is a multilateral regional organisation established with the aim of accelerating shared growth and cooperation between littoral and adjacent countries in the Bay of Bengal region.
• Secretariat: Dhaka, Bangladesh.
• Membership: It has a total of seven member countries:
  • Five from South Asia, including Bangladesh, Bhutan, India, Nepal, and Sri Lanka;
  • Two from Southeast Asia, including Myanmar and Thailand.
• Founding Principles of the BIMSTEC:
  • Principle of sovereign equality
  • Territorial integrity
  • Political independence
  • Non-interference in internal affairs
  • Peaceful coexistence and mutual benefit
• Distinctive Features of BIMSTEC: 
  • Sector-Driven Organisation: Unlike SAARC or ASEAN, BIMSTEC operates as a sector-driven organisation. 
  • Division of Responsibilities: Goals and areas of cooperation are divided among member states.
    • Example: India has previously been responsible for sectors such as transportation, tourism, and counter-terrorism within BIMSTEC.
• Working Mechanism of BIMSTEC:
  • Under BIMSTEC, Policy making would be done through two types of meetings: 
    • Summits, which are supposed to be held every two years; 
    • Ministerial meetings of Foreign and Commerce Ministers of member countries for deciding on trade and economic affairs, to be held once every year. 
• An operational meeting of senior officials to monitor the activities of the grouping is also supposed to be held twice a year.
• BIMSTEC Working Group: BIMSTEC has a coordinating body called the BIMSTEC Working Group, which has a rotating chairman based on which member country chairs the organisation. 
  • Under this, meetings are to be held monthly at the Dhaka secretariat to review the progress of the regional grouping.
• Business Forum & Economic Forum: It ensures active participation of the private sector.