BIMSTEC serves as vital bridge between South and Southeast Asia: PM Modi

He thanked PM Shinawatra for Thailand's capable and effective leadership in steering BIMSTEC over the past three years.

BIMSTEC serves as a vital bridge between South and Southeast Asia, and is emerging as a powerful platform for advancing regional connectivity, cooperation, and shared prosperity", PM Modi said in his statement.

"It is a matter of great satisfaction that the BIMSTEC Charter came into force last year. I am confident that the Bangkok Vision 2030, which we are adopting today, will further our collective commitment to building a prosperous, secure, and inclusive Bay of Bengal region", he further added.

PM Modi highlighted that the BIMSTEC Energy Centre, based in Bengaluru, has commenced its operations.

He noted that India would be happy to share its experience in Digital Public Infrastructure with BIMSTEC member states and proposed the establishing of connectivity between India's Unified Payments Interface (UPI) and the payment systems of BIMSTEC member states. "Such integration would bring substantial benefits across trade, industry, and tourism, enhancing economic activity at all levels", he said.

PM Modi also proposed the establishment of a BIMSTEC Chamber of Commerce. "Additionally, an annual BIMSTEC Business Summit will be organized to foster greater economic engagement.

I would also suggest conducting a feasibility study to explore the potential for trade in local currencies within the BIMSTEC region", he said.

 yet another significant announcement, he said, "India will extend support for training and capacity building in cancer care across BIMSTEC countries. In line with our holistic approach to health, a Centre of Excellence will also be established to promote research and dissemination of traditional medicine" and also proposed the establishment of another Centre of Excellence in India was also proposed, focused on the exchange of knowledge and best practices, research collaboration, and capacity building in the agriculture sector.

PM Modi also proposed the establishment of a ground station for manpower training, the development and launch of nano-satellites, and the use of remote sensing data for the BIMSTEC countries.

In a unique endeavour, PM Modi said, "We are launching the BODHI initiative, ie "BIMSTEC for Organized Development of Human Resource Infrastructure" initiative. Under this programme, 300 young individuals from BIMSTEC member countries will receive training in India each year."

He mentioned that scholarships would be offered to BIMSTEC students at India's Forestry Research Institute, and the scholarship scheme at Nalanda University would also be expanded. Additionally, an annual training programme will be organized for young diplomats from BIMSTEC member countries.