BIMSTEC key to Indo-Pacific trade, blue economy: Secretary General

Kolkata, Sep 18 (PTI) The Bay of Bengal has emerged as the central hub of trade in the Indo-Pacific, with BIMSTEC driving cooperation among member states in critical areas such as the blue economy, energy, disaster management and tourism, Secretary General Indra Mani Pandey said on Thursday.

Speaking at the Indo-Pacific Economic Conclave organised by The Bengal Chamber here, Pandey said India is well placed to address regional currency and political challenges while strengthening partnerships across BIMSTEC nations.

“BIMSTEC has enhanced cooperation among member states in diverse areas, positioning the Bay of Bengal at the heart of Indo-Pacific growth,” he noted.

The Indo-Pacific region accounts for over 60 per cent of global GDP, with trade and maritime partnerships increasingly shaping its future trajectory, officials at the conclave said.

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) was established in 1997. Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand are its members. PTI BSM NN