The fifth summit of the regional grouping, the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), held virtually in Colombo on March 30, has undoubtedly advanced the cause of regional cooperation and integration. But a dispassionate look at the grouping, composed of five South Asian countries and two Southeast Asian countries, is needed, especially as it celebrates its 25th anniversary in June this year. The member-states are: Bangladesh, Bhutan, India, Nepal, Sri Lanka, and Myanmar and Thailand.
BIMSTEC is no longer a mere initiative or programme. The question to address is whether it is now capable of tackling the challenges facing the region. Representing a fifth of the world’s population that contributes only 4% of the global GDP, can this multilateral grouping trigger accelerated economic development?
