AUTHORS : PROMIT MOOKHERJEE | ADNAN AHMAD ANSARI | ANOUSHKA KHATRI

Special Reports Published on Jul 30, 2024

Introduction

The Indo-Pacific is emerging as a hotspot for global politics and economics even as it faces the massive consequences of challenges such as climate change and supply chain bottlenecks. Within this dynamic space, both the Association of Southeast Asian Nations (ASEAN) and the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) are poised to become increasingly influential groupings.

Since its formation in 1967, ASEAN has met with some success in ensuring economic integration across economies in almost contiguous geographies. The grouping has enabled an integrated Southeast Asian economy, resulting in the world’s largest Free Trade Agreement and six free trade deals among economies in the region. BIMSTEC, meanwhile, is a newer entity, founded in 1997, that comprises nations adjacent to the Bay of Bengal. The grouping has identified 14 priority areas for cooperation and has already witnessed a degree of success in areas such as energy and maritime cooperation.

The regional synergy between ASEAN and BIMSTEC is therefore becoming increasingly important. Together, the organisations account for a combined population of nearly 2.15 billion and a GDP of US$4.2 trillion (as of 2019), which present substantial opportunities for economic growth. The historical ties and shared cultural heritage of these countries also offer a strong foundation for deepening collaboration, particularly in promoting regional stability and development.

It is against this backdrop that Observer Research Foundation, the Foreign Policy Community of Indonesia, and the Embassy of India in Jakarta co-hosted the inaugural edition of the “Jakarta Futures Forum: Blue Horizons, Green Growth” in May 2024, with support from the Asia Group’s India Practice. The two-day conference sought to enhance business and strategic ties between India and Indonesia, as well as the broader multilateral groupings that each country anchors in Asia. A highlight of the event was the closed-door roundtable discussion on ASEAN-BIMSTEC cooperation, which featured remarks from speakers including Indra Mani Pandey, Secretary General of BIMSTEC; Satvinder Singh, Deputy Secretary General of ASEAN; Sandeep Chakravorty, Ambassador of India to Indonesia; and Md. Tarikul Islam, Ambassador of Bangladesh to Indonesia. This report builds on the discussions at the event, highlighting key recommendations to strengthen relationships among countries in the Global South. In particular, the focus was trained on enhancing regional synergy between ASEAN and BIMSTEC.

Please open the link:   https://www.orfonline.org/research/asean-bimstec-synergy-bringing-together-global-south-forces

IRSEA IS PARTNER OF ORF.

 The opinions expressed in this article are the authors’ own and do not necessarily reflect the official policy, position or view of IRSEA