BIMSTEC eyes deeper trade, energy & blue economy ties in Bay of Bengal

Kolkata: The Bay of Bengal is the central point of trade. BIMSTEC has enhanced cooperation among member states in areas such as the blue economy, mountain economies, energy, disaster management, culture, and tourism, Secretary General of BIMSTEC Indra Mani Pandey said in Kolkata on Thursday.

"India holds a strategic position to address regional currency and political challenges, he stated.

India shares the Prime Minister’s vision on SAGAR, MAHASAGAR, and the Indo-Pacific Oceans Initiative (IPOI) Ministry of External Affairs Joint Secretary (States) A Ajay Kumar said on Thursday.


“We invite various global countries to join IPOI to strengthen regional cooperation,” Kumar said today while highlighting India’s strategic vision as he was speaking at the 3rd Edition of the Indo-Pacific Economic Conclave (IPEC) 2025, coinciding with its 171st Annual General Meeting, organized by the Bengal Chamber of Commerce and Industry (BCC&I).

Delivering the keynote address, West Bengal Additional Chief Secretary, Department of Micro, Small & Medium Enterprises and Textiles (MSME & T) Rajesh Pandey remarked, “The Indo-Pacific region accounts for more than 60% of global GDP, with a shared perspective on trade. In West Bengal, MSMEs contributed 44% to total exports in 2022-2023, rising to 46% in 2023-2024, showcasing their growing economic impact.”

With the theme “Indo-Pacific Cooperation: Towards New Horizons of Maritime Partnership ,” the Conclave was collaborated by the Ministry of External Affairs (MEA). The international symposium brought together high-level representatives from across the Indo-Pacific region and beyond, including Indonesia, Malaysia, the Philippines, Australia, Cambodia, Japan, Bangladesh, Nepal and Myanmar.

The platform fostered cross-border collaborations, policy dialogues, and strategic partnerships to shape the future of the Indo-Pacific region.

“India’s Indo-Pacific engagement focuses on its commitment to inclusive growth anchored in sustainability. India is working towards a future-ready Indo-Pacific through investments in marine biodiversity conservation, climate resilience, and collaborative economic policies — one that ensures prosperity, stability and ecological balance,” Arnab Basu, President of BCCI emphasized.