Dhaka emerging as BIMSTEC Secretariat This write up focuses the aim, objective, accomplishment and failure of BIMSTEC (Bay of Bengal Initiative for Multi- sectoral Technical and Economic Cooperation), a regional block comprising Bangladesh, India, Sri Lanka, Nepal, Bhutan, Thailand and Myanmar. According to official disclosure the group encompasses 1.3 billion people, accounting for 21 per cent of the world population, with the combined GDP of about $ 2.5 trillion. Since inception in late 1990s, the seven-member grouping has been endeavoring to integrate activities to bolster growth and development. The cardinal concept had been to re-establishing the historic Stilwell Road with the North-east and the neighboring countries of the Southeast Asian region. The main focus of this regional grouping is to establish fast-track trade and economic cooperation leading to Free Trade Area (FTA) by 2017. Dhaka is completely ready for formal opening in September as BIMSTEC Secretariat to engage in fulfilling the vision of free trade by integrating the activities of countries which abounds with homes of more than 600 million people. Bangladesh Prime Minister, Sheikh Hasina is likely to inaugurate the BIMSTEC Secretariat at Gulshan, diplomatic area in mid September. Earlier, the decision to this effect in the form of MOU was signed and finalized at the 3rd Summit held in Nay Pyi Taw, Myanmar, in last March 2014. Dhaka supremely qualifies to host the Secretariat in view of its location. Ambassador Summit Nakandala, a seasoned Foreign Office diplomat from Sri Lanka has assumed the office of the Secretary General with effect from 10th August 2014. Experts believe, unlike SAARC, BIMSTECs economic agendas are less vulnerable to regional politics. They could succeed to build a strong link involving South and East Asian countries towards fast-track trade and economic cooperation. BIMSTEC drives in six sectors covering trade, technology, energy, transport, tourism, and fisheries. Seven more sectors were included later by 2005 covering agriculture, public health, poverty alleviation, counter-terrorism, environment, culture, and people-to-people contact. BIMSTEC, in pragmatic analyses, has not been able to make tangible accomplishment, excepting toll talks delivered by the leaders for socio-economic transformation of the region. Growth in the Southeast Asias economies, however, has been impressive during past 50 years to spawn millions of new middle class workers attracting foreign investment. However, wealth gaps remained huge within the Asian Block, which includes rich countries like Singapore, middle income nations such as Indonesia, Malaysia and lower income ones such as Cambodia and Myanmar. Former Indian Prime Minister Manmohan Singh called for early conclusion of the BIMSTEC Free Trade Agreement when he expressed his belief that the members have to agree to extend to investment and services in the best interest of the member countries. In February 2011, Thailand decided to push for the conclusion of a free trade agreement with India and other members of BIMSTEC by July of the year for enabling tariff reduction during 2012. Earlier, India sealed free-trade pact with Thailand in June-2009, and took its trade diplomacy up several notches with negotiators wrapping up a free trade deal in goods with other countries of the group. Pitching for early conclusion of the BIMSTEC Free Trade Agreement, Indian Prime Minister Manmohan Singh |in November-2008 said countries in Asia should give a new strategic thrust to the cooperation in the backdrop of global financial crisis. BIMSTECs working methodology is based on assigning each member country to coordinate one, two or three sectors, although the block mooted a Free Trade Agreement (FTA) as decided in first Summit in 2004. Trade Negotiation Committees (TNCs) had been formed to work out an FTA, but no progress was achieved, because two key members of the grouping, viz, India and Thailand have been embarking on an FTA in 2004. Earlier, Bangkok Working Group (BWG) under the supervision of the Department of International Economic Affairs of the Thai Foreign Ministry with the consultation of the Ambassadors of the member countries used to work. Monthly meetings took place until 2010 to push forward the cooperation agenda in each sector and for identifying policy adjustments. This was a loose arrangement as such the Working Group (BWG) could hardly deliver any positive outcome. Under the changed circumstances, Dhaka secretariat has to play critical role adding more dynamism in its working process. Pragmatic steps are needed to restructure the BWG with a view to directing and guiding it to deliver results rather than focusing on a grand agenda and dilute its efforts. The ADB completed the BIMSTEC Transport Infrastructure and Logistic Study (BTILS). BTILS supported by ADB will enhance regional connectivity and for this purpose, concrete projects have been identified for implementation. With some logistic supports ADB has emerged as BIMSTECs development partner since 2005 for promoting economic cooperation in the GMS (Greater Mekong Sub-region). This can be replicated in the BIMSTEC region with required funding from ADB. In the same way, transport infrastructure connectivity can also be benefitted from the initiatives of the BCIM (Bangladesh, China, India and Myanmar) corridor. The integration of transport with sub-regional infrastructure investment support can be a good starting point for the Dhaka Secretariat. The integration process many a way help linking Asia Highways and Trans-Asia Railway projects, initiated by ESCAP sometimes back. In the context of all the development, three areas need immediate attention for strengthening cooperation: (1) Tourism promotion in the region using the BIMSTEC Buddhist circuits, (2) Fisheries cooperation in the Bay of Bengal -- first by compiling a Directory of BIMSTEC fisheries organization, and (3) The Information and Communication Technology (ICT) sector which is closely related to transport integration. Strangely, ICT has not received much emphasis in BIMSTECs sectoral cooperation dialogues. On the other Chamber of Commerce network of the block has to be strengthened to complement the policy-driven authority and market-driven integration process. The third BIMSTEC Summit has also directed the TNC to expedite its work for boosting the current intra-regional trade from 2.5 per cent to a higher level. In the absence of a Charter, BIMSTEC leaders have to empower the Secretariat to steer the organization so that it can act as nerve centre of all functionaries. Experts view the emerging Dhaka secretariat should in no way be akin to the SAARC Secretariat in Kathmandu, rather it should be like the ASEAN Secretariat in Jakarta where powers have been delegated by the ASEAN Heads of State to drive the organization. The recent remark by the Indian Prime Minister, Modi, that the SAARC Head Office should be located in Delhi is perhaps the manifestation of a similar line of thinking in regard to Secretarial powers. To conclude, we earnestly hope that Dhaka secretariat of BIMSTEC will bring new dynamism in all functionaries to help accomplish both short term and long term objectives. The people of the entire region will be ambitiously waiting to observe wide-ranging changes in the activities of Dhaka secretariat. Bold steps accompanied by more farsighted action plan and quick decision would help achieve its mission and vision. This way BIMSTEC can emerge as an action oriented and effective international grouping to change the fate of this region. In recent past, BRISCS countries have decided to launch New Development Bank (NDB) for reducing the dominance of the World Bank and IMF. This may be a farsighted dream, but a lot of times dreams remain in the dreamland, instead of being practically implemented. Let there be a positive initiative in this regard for resounding success of this esteemed forum.
Posted on: Sat, 30 Aug 2014 05:29:54 +0000
Trending Topics
Recently Viewed Topics
© 2015