Future Directions of BIMSTEC:
Towards a Bay of Bengal Economic Community
Combining seven geographically contiguous South Asian and ASEAN countries in the Bay of Bengal, BIMSTEC is a regional grouping with immense potential of mutually beneficial economic cooperation. BIMSTEC received a major impetus in 2004 with the signing of a Framework Agreement for an FTA, entry of Bhutan and Nepal as Members and the First Summit held in Bangkok.

This Report, prepared by RIS as mandated by the BIMSTEC Ministerial Meeting, puts forward a road map for the future of BIMSTEC as a regional grouping. Prepared in consultation with the Think Tanks of Bangladesh, Sri Lanka and Thailand, this Report makes a case for formation of Bay Bengal Economic Community by 2020 for exploiting the full potential of economic integration in the region. It also makes a case for setting up an Energy Community and also presents several proposals for promoting mutual cooperation in transport infrastructure, tourism, food processing, fisheries, among other sectors and for dealing with the digital divide.

 

Contents

Preface 
 Executive Summary

I The BIMSTEC Region: Characteristics and Recent Economic Performance
  Introduction 
  Macro Economic Performance of BIMSTEC Member Countries
  Structural Transformation
  Stabilization: Fiscal Deficit, Money Supply and Inflation
  Savings, Investment and FDI Inflows
  Outward Orientation and Trade Performance
  Concluding Remarks
 

2

  

Economic Cooperation for Development and Competitiveness
  Introduction
  Exploiting the Potential of Regional Economic Integration for Development
  Regional Cooperation for Strengthening the External Competitiveness in Third Countries
  Concluding Remarks
 

3

  

Transport Infrastructure and Linkages
  Introduction
  Availability and Quality of Physical Infrastructure in BIMSTEC
  Transport Linkages Between BIMSTEC Member Countries
  Some Policy Imperatives
 

4 

  

Energy Cooperation: Towards a Bay of Bengal Energy Community
  Introduction
  Energy Demand and Supply in BIMSTEC Countries
  Bilateral Cooperation Arrangements in BIMSTEC
  Towards a Bay of Bengal Energy Community
 

5 

  

Other Sectors of Cooperation
  Tourism
  Food Processing
  Fisheries
  Automobiles and Parts
  SMEs
  Technology Management and Capability Building
  Cooperation in Information Technology: Dealing with the Digital Divide
  Exchange of Development Experiences and Network of Think Tanks

5½"  X  8½"   • 68 + 8 pages • ISBN 81-7122-093-2 (India)   Price: Rs. 75  US$ 5



Published by:

Research and Information System for the
Non-Aligned and Other Developing Countries (RIS)
Core IV-B, Fourth Floor, India Habitat Centre,
Lodhi Road, New Delhi-110 003, India.
Ph. 91-11-24682177-80 Fax: 91-11-24682173-74
Email: dgoffice@ris.org.in  Website: http://www.ris.org.in