Questions over stability of world order: PM Modi at BIMSTEC summit

Referring to Russia’s attack on Ukraine, Modi said: “Recent developments in Europe have raised question marks over the stability of international order… In this context, it has become important to make BIMSTEC regional cooperation more active… regional security is very important now.”

“With our region facing challenges of health and economic security, the need of the hour is unity and cooperation,” he said. “Today is the time to make the Bay of Bengal bridge of connectivity, bridge of prosperity, bridge of security,” he said.

Besides India, BIMSTEC comprises Sri Lanka, Bangladesh, Myanmar, Thailand, Nepal and Bhutan.

The summit adopted the “BIMSTEC charter”, which will give the grouping an international identity and formally state its purposes and principles. Modi said this was an important step in the direction of establishing an institutional architecture. “Now we should focus our attention on how to make this architecture stronger,” he said.

In this context, Modi said he agreed with the Secretary General’s suggestion that an eminent persons’ group be formed to prepare a vision document. It is also important to enhance the capacity of the BIMSTEC Secretariat, he said, adding that a roadmap should be outlined to achieve this goal.

With 21.7 per cent of the world’s population and a combined GDP of $3.8 trillion, BIMSTEC has emerged as an influential engine of economic growth.

Modi said that in order to increase mutual trade, it is important to move forward on the free trade agreement proposal. “We should also increase exchanges between entrepreneurs and startups of our countries. Along with this, we should also try to adopt international norms in the field of trade facilitation,” he said.

The Indian Council for Research on International Economic Relations, in collaboration with the Asian Development Bank (ADB), is set to launch an awareness programme in this connection.

Stressing that without security, it is impossible to ensure the prosperity or development of the region, Modi recalled that at the grouping’s fourth summit in Kathmandu, a decision was taken to strengthen the regional legal framework against terrorism, trans-national crime and non-traditional threats.

“We had also decided to increase cooperation between our law enforcement agencies. I am glad that our convention to combat terrorism has become active since last year. During today’s summit, a mutual legal assistance treaty on criminal matters is also being signed between us. We should also move quickly to other similar instruments, so that there can be better coordination between our legal systems,” he said.

Underlining that the BIMSTEC Centre for Weather and Climate is important for cooperation in disaster management, especially disaster risk reduction, Modi sought the collaboration of BIMSTEC members to make this more active. India is ready to contribute US$ 3 million to restart the work of this centre, he said.

Better connectivity is the mainstay of better integration, business, people-to-people relationships among the member states, Modi said. “Today, we have adopted BIMSTEC’s Master Plan for Transport Connectivity. I thank ADB for preparing this. We should stress on early implementation of this master plan,” he said.

BIMSTEC must also move fast on the ongoing initiatives in the field of connectivity, he said, adding that it is necessary to develop a legal framework to establish a “coastal shipping ecosystem” in the Bay of Bengal. The time has come to take electricity grid inter-connectivity ahead in discussions and introduce it on the ground, Modi said. The establishment of a legal framework is important for increasing road connectivity, he said.

As is the usual practice at the end of the summit, the current chair handed over the chairmanship to Thailand.