Author: Biman Mukherji,Amy Sood

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), consisting of Myanmar, Thailand, Bangladesh, Bhutan, India, Nepal, and Sri Lanka, aims to establish a Free Trade Area within its region, which is home to over 20% of the world’s population and a GDP of $5 trillion. The upcoming summit in September will focus on maritime transport cooperation to enhance regional connectivity. Bangladesh has recently cleared ports for India, reducing transport costs significantly. The group also plans to develop infrastructure like expressways, coastal shipping, railways, and air services. India plays a crucial role in BIMSTEC’s success, holding strategic…