Introduction

is an international organisation involving a group of countries in South Asia and South East Asia. The member countries of this group are: Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal.

Background
On 6 June 1997, a new sub-regional grouping was formed in Bangkok and given the name BIST-EC (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation). Myanmar attended the inaugural June Meeting as an observer and joined the organization as a full member at a Special Ministerial Meeting held in Bangkok on 22 December 1997, upon which the name of the grouping was changed to BIMST-EC. Nepal was granted observer status by the second Ministerial Meeting in Dhaka in December 1998. Subsequently, full membership has been granted to Nepal and Bhutan in 2003. In the first Summit on 31 July 2004, leaders of the group agreed that the name of the grouping should be known as BIMSTEC or the Bay of Bengal Initiative for MultiSectoral Technical and Economic Cooperation.

Aims and Purposes

to create an enabling environment for rapid economic development accelerate social progress in the sub-region promote active collaboration and mutual assistance on matters of common interest provide assistance to each other in the form of training and research facilities, cooperate more effectively in joint efforts that are supportive of, and complementary to national development plans of member states maintain close and beneficial cooperation with existing international and regional organizations, cooperate in projects that can be dealt with most productively on a sub-regional basis and which make best use of available synergies. .

Contd..
BIMSTEC was initiated with the goal to combine the 'Look West' policy of Thailand and ASEAN with the 'Look East' policy of India and South Asia. So it could be explained that BIMSTEC is a link between ASEAN and SARRC. Seven members of BIMSTEC covers 13 Priority Sectors lead by member countries in a voluntary manner namely, Trade & Investment, Technology, Energy, Transport & Communication, Tourism, Fisheries, Agriculture, Cultural Cooperation, Environment and Disaster Management, Public Health, People-toPeople Contract, Poverty Alleviation and CounterTerrorism and Transnational Crimes

BIMSTEC (Bay of Bengal Initiative for MultiSectoral Technical and

Economic Cooperation) - Trade & Services Measures

Para 2 of Article 6 of the Final Draft Framework Agreement On the BIMSTEC Free Trade Area says:

The parties further agree to enhance trade facilitation in areas, including but not limited to, the following:
(a) Mutual Recognition Arrangements (MRAs), conformity assessment, accreditation procedures and standards & technical regulations. (b) Customs cooperation; (c) Trade finance; (d) E-commerce; and (e) Business Visa and travel facilitation
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Bangkok Agreement
China & India are the worlds fastest growing economy who are members. Sino India is also the worlds largest market in terms of headcount. It can provide both techno-financial and market support. SAARC, ASEAN & China can join hands to ensure the prosperous future for one-half of the world population. The geographical proximity between SAARC-China-Asean must be exploited for mutual benefit

Growth Quadrangle
Nepal, East India, Bangladesh & Bhutan Cooperation Sub Regional Within SAARC Sectorial Development Like Trade, Transport, IT & Tourism etc. ADBs Sub Regional baby East Indias Focal Role

Nepal India
Ocean Market / Sky Limit Preference Market Assess Value Addition Trade Balance Bilateral Within SAFTA/WTO Complementary & Supplementary 3rd Country Arrangement Like Pakistan & Bhutan
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