BIMSTEC-IORA ink MoU to strengthen regional cooperation
Staff Reporter :
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) and the Indian Ocean Rim Association (IORA) in a significant move signed a Memorandum of Understanding (MoU) on Friday, paving the way for enhanced interregional cooperation in key areas of mutual interest.
The MoU was signed on the sidelines of the 6th BIMSTEC Summit held in Bangkok, Thailand.
Indra Mani Pandey, Secretary General of BIMSTEC, and Mr. Sanjiv Ranjan, Secretary General of IORA, signed the agreement on behalf of their respective organizations, BIMSTEC Secretariat said on Sunday.
The signing ceremony was welcomed by leaders of BIMSTEC member states, marking a strategic step forward in institutional collaboration between the two regional bodies.
The agreement is expected to play a crucial role in strengthening BIMSTEC’s ability to address regional challenges through capacity building, knowledge sharing, and joint initiatives.
Key areas of collaboration identified under the MoU include trade and investment facilitation, environment and climate change, maritime security, science and technology, and connectivity.
Additionally, the partnership emphasizes cooperation in the blue economy, ocean governance, and fisheries management-sectors that are of growing importance to both organizations.
The MoU also aims to promote joint efforts in disaster risk reduction, tourism, cultural exchange, and people-to-people contact.
“With IORA’s wide geographic reach and strategic maritime presence, this partnership offers BIMSTEC new opportunities to enhance regional integration and development,” said an official statement.
“It will also allow BIMSTEC to benefit from IORA’s experience in areas such as sustainable development, women’s economic empowerment, and academic and technological collaboration.”
BIMSTEC, comprising seven countries-Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand-focuses on cooperation across sectors such as security, connectivity, climate change, agriculture, trade, and innovation.
IORA, established in 1997, includes 23 member states and 12 dialogue partners spread across the Indian Ocean region.
The newly signed MoU is seen as a timely and strategic move, enabling both organisations to jointly address common security and development challenges in the wider Indian Ocean and Bay of Bengal region.
As global geopolitical and environmental concerns intensify, the BIMSTEC-IORA MoU stands as a testament to the power of regional collaboration in promoting peace, prosperity, and sustainable development.
The sixth BIMSTEC Summit concluded in Bangkok on Friday and Thailand handed over its chairmanship to Bangladesh for the next two years.
Soon after taking over as BIMSTEC Chair at the sixth summit, Chief Adviser Dr. Muhammad Yunus instructed Secretary General Indra Mani Pandey to initiate a BIMSTEC Youth Festival aimed at connecting young people across member states.
In a meeting following the summit, Yunus emphasised the need for a separate youth gathering alongside the next BIMSTEC summit, scheduled to be held in Dhaka in two years.
“A youth meeting during the summit will help bring our young people together,” he said.
He further proposed that each member country contribute to the youth festival, with one taking the lead in organizing.
“This initiative will foster greater regional unity among the next generation,” Yunus noted.
Secretary General Pandey welcomed the suggestions, calling them “fantastic ideas” and promising full support for implementation.
Dr Yunus also asked about the progress of the BIMSTEC Free Trade Agreement negotiations, CA’s Deputy Press Secretary Abul Kalam Azad Majumder told the media.