The whole world is closely watching and eagerly waiting for Asia’s long-awaited regional summit that is expected to add new strength to Asia in the world geopolitics.
Months-long preparations and bilateral discussions between Asian powers are finally bringing to us the 4th BIMSTEC Summit that will see Asian powers coming together to discuss on key areas pertaining to regional cooperation.
And it’s Nepal, the landlocked country adjacent to two Asian giants with high geographical presence, that is holding the Summit.
The BIMSTEC 2018 Summit, to be held during August 30-31, 2018, is going to see high-level ministers and foreign secretary-level dignitaries from the seven BIMSTEC member countries from South and Southeast Asia: Bangladesh, Bhutan, India, Nepal, Sri Lanka, Myanmar and Thailand.
In view of the BIMSTEC 2018 Summit, let’s take a look at how BIMSTEC can impact Asia and Nepal geopolitics.
BIMSTEC & Significance
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Group is a combination of seven member: Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal.
As a home to nearly 22 percent of the world population and a USD 2.7 trillion combined GDP strength, the BIMSTEC group has been into existence since more than 20 years.
Despite its long history, the organization saw the establishment of its Secretariat only in 2014 and is still awaiting institutional legitimacy.
The group has been in dire need for an effective institutional mechanism that can empower its activities in key areas of cooperation such as poverty alleviation, trade & investment, climate change, connectivity and security.
Changing geopolitics across the world, mostly in developed countries, and a drastic shift in world focus to Asian region is the key aspect that lays strong foundation for organizations like SAARC and BIMSTEC.
Though EU has been a flagship initiative towards enhancing regional cooperation, the Brexit gave a big hit to the region triggering alerts on strategies pertaining to regional cooperation, not just in the region but across the world.
In view of many such global scenarios from past to present and high geographical presence since centuries make Asia the most-sought region, and this moved Asian powers to keep up their strengths in order to play more significant role in the world’s make-over.
BIMSTEC 2018 is one in that direction!
BIMSTEC aspires to be a collaborative platform addressing key concerning areas such as terrorism, poverty, human rights, among others pertaining to Asian region and bring in a new form of regional cooperation and connectivity for overall development.
Let’s hope the BIMSTEC 2018 will help the region stand in line with the global principles pertaining to role of regional cooperation in meeting UN goals, with regional cooperation being a building block.
And, Nepal as a country with rapid pace of growth in the recent past has got a great opportunity in the form of BIMSTEC 2018 to prove its significance in the Asian region and also for local development that followed a long-awaited political struggle.