The Bbin mva the bimstec.
Bbin motor vehicles agreement implemented.
The Bbin Initiative has taken shape to promote economic integration
and development in the region.
If the Bbin is successfully executed,
India has a replicable model to make BIMSTEC work.
India has embarked on the implementation of the Bbin motor pact with Bangladesh and Nepal.
Building on the Bbin platform, India must be willing to commit significant financial,
human and technical resources to strengthen BIMSTEC.
Perhaps the most glaring oversight of the Bbin was India's failure to involve the private
sector in its regional initiatives.
Bangladesh, Bhutan, India, Nepal(Bbin) needs to be accorded the highest
priority as it has great potential to deliver rich dividends quickly.
Which leads to the second point: if the Bbin is successfully executed,
India has a replicable model to make BIMSTEC work.
The Bbin is a big initiative in the region,
which is aimed at improving rail and road connectivity in the region.
Similarly, Bbin could prove itself as a regional economic sub-grouping, given the
willingness of all the countries in the grouping to cooperate.
The Bbin initiative is a big initiative in the region,
which is aimed at improving rail and road connectivity in the region.
The two Prime Ministers underscored the importance of regional and sub-regional cooperation under BIMSTEC,
SAARC, and Bbin frameworks for forging meaningful cooperation in identified sectors.
Just like the Bbin MVA, the BIMSTEC is a strategic, economic and
socio-political opportunity for India to recalibrate its imperfect relationship with the neighbouring countries.
If India wants BIMSTEC
to emerge as an important forum for regional integration, the success of the Bbin will go a long way towards displaying intent and capability.
The benefits of Bbin connectivity then, would extend to the growth
of micro, small and medium enterprises in all three nations, the building of regional value chains, and advancing innovation and entrepreneurship.
The only initiative with that appears to have shown some promise so far is
the Bangladesh, Bhutan, India and Nepal(Bbin) initiative, which signed a historic
Motor Vehicle Agreement(MVA) in 2015, signaling a resurgence of‘sub-regions' as key loci for regional integration.