BIMSTEC to Adopt Bangkok Vision 2030

Table of Contents

Context
In a 19th ministerial meeting of BIMSTEC in Thailand, the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation is going to adopt a ‘Bangkok Vision 2030’ which would be an overarching document and give direction to the organization.
  • The marine transport cooperation agreement is also expected to be concluded at the summit.
The Bangkok Vision 2030:
  • Background:
    • The grouping comprises Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand.
    • In 2022, the BIMSTEC charter was adopted which lays the foundation for it to function as a full-fledged organization.
  • About:
    • Objective: Bangkok Vision 2030 seeks to propel BIMSETC toward a region that is prosperous, resilient, and open moving us in a forward-looking trajectory for sustainable and balanced growth.
    • An eminent group of persons has been introduced for monitoring progress in all seven sectors.
  • Draft proposed:
    • The 19th BIMSTEC ministerial meeting hosted by Thailand in March 2023, had discussed and approved the draft text of BIMSTEC Bangkok Vision 2030.
    • The goals found in the vision are also in line with the United Nations’ Sustainable Development Goals and Thailand’s bio-circular-green economic model.
Marine transport cooperation agreement: The meeting also approved several agreements and important documents, including the rules of procedure for the BIMSTEC mechanism, and an agreement on maritime transport cooperation.
Significance:
  • This aims to further promote BIMSTEC as a region of peace, stability, and economic sustainability.
Key points of BIMSTEC Ministerial Meeting:
  • During the meeting, the Ministers approved several documents including rules of Procedure for Core BIMSTEC Mechanisms, Sectoral BIMSTEC Mechanisms and BIMSTEC’s External Relations for submission to the 6th BIMSTEC Summit.
  • The meeting also approved the draft Host Country Agreement between India and the BIMSTEC Secretariat for establishing BIMSTEC Centre for Weather and Climate in India.
  • The Meeting also approved the Terms of Reference for an Eminent Person’s Group on the Future Directions of BIMSTEC.
  • The Terms of Reference were finalized under the special scheme for institution building.
  • Besides BIMSTEC Bangkok Vision 2030 was also approved and will be launched at the 6th BIMSTEC Summit.
  • The Meeting also gave its nod to the Administrative and Disciplinary Rules of the Secretariat and amended Financial Rules and Regulations of the BIMSTEC Secretariat.
About BIMSTEC:
  • It is a regional organization that was established on 06 June 1997 with the signing of the Bangkok Declaration.
  • The Chairmanship of BIMSTEC rotates according to the alphabetical order of the English names of the Member States.
  • Its Secretariat was established in Dhaka, Bangladesh.

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