FROM LOOK-EAST TO ACT- EAST POLICY: WEIGHING THE BIMSTEC POTENTIAL

Back to Page Authors: Divya Nath

Keywords: regionalism, India, BIMSTEC, cooperation, mutual benefit

Abstract: Most countries of the world today face the regionalism dilemma, of whether to let their economies be determined by global forces, or else to ensure regional cooperation in such a way, that they are able to dictate global forces. India is a strong advocate of the latter approach, while trying to make its presence felt at all international forums. Always following a ‘neighbourhood first’ policy, and recently trying to find an alternative to the non-functional SAARC, its focus has shifted towards reviving ties with the BIMSTEC, in the process, converting its erstwhile Look-East policy to Act-East policy. This would, in the bargain, transform the insurgency and unemployment-ridden India’s North-East, into a zone of convergence, curb China’s influence in the region, forge economic links with the ASEAN and bring stability to the region. The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) has a combined GDP of $2.7 trillion and is home to over 1.5 billion people, with its member countries having rich natural resource base and are situated along an important and convenient sea trade route. So, it has the potential for forging strong regional, economic, social, cultural ties, in order to enhance its capabilities to face the onslaughts of globalization in a collective manner. The strong complementarities and diverse capabilities of each member further sows possibilities for mutual benefit through transportation linkages, promotion of tourism, energy cooperation, regional management of environmental resources through exchange of scientific and technical knowledge, exploitation of marine resources and disaster management etc. Better organization of the grouping, strong political will, regular Summits, a bottoms-up approach towards resolution of common problems and the ability to think and act in the larger interests of the group would serve as building blocs, towards catapulting BIMSTEC as a bridge between South Asia and South-East/East Asia on the one hand, and between the region and global forces on the other.