ISAS Insights

As a collective of countries around the Bay of Bengal rim, the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is unique as a cross-regional grouping between South and Southeast Asia. India is the largest economy of the group, followed by Thailand, Bangladesh, Sri Lanka, Myanmar, Nepal and Bhutan. However, despite being in existence for two decades with a detailed work agenda for cooperation and political congeniality among members, BIMSTEC has hardly progressed. Hopes of the grouping picking up momentum have increased after its 4th Summit in Nepal on 30 and 31 August 2018 which resulted in important decisions like intra-member energy grid connectivity. Prospects of a BIMSTEC free trade agreement (FTA) also appear brighter.