The recent implementation of the BIMSTEC Charter is set to significantly enhance regional cooperation among member states, marking a crucial milestone for the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC). The Charter, which came into force on May 20, provides a robust legal and institutional framework for improved coordination among the seven member countries: India, Sri Lanka, Bangladesh, Myanmar, Thailand, Nepal, and Bhutan.
Foreign Minister Dr. S. Jaishankar emphasized the importance of this development on social media platform ‘X’, stating that the implementation reaffirms India’s commitment to being a prosperous, peaceful, and sustainable neighbor. He highlighted that BIMSTEC reflects India’s strategic Neighborhood First and Act East policies.
Foreign Ministry spokesperson Randhir Jaiswal described the Charter’s implementation as pivotal, noting that it will strengthen BIMSTEC’s partnerships and facilitate the inclusion of new members. The Charter’s signing at the fifth BIMSTEC Summit in March 2022 and its subsequent ratification by all member countries by April 2024 underscores a collective commitment to regional cooperation.BIMSTEC, representing 22 percent of the world’s population and a combined GDP of approximately $3.6 trillion, stands to benefit greatly from this enhanced cooperation framework.