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4th March 2023 (8 Topics)

BIMSTEC and Energy Security

Context

Despite being abundant with resources and a developed energy sector, BIMSTEC countries are not much advance in generation and utilisation to provide affordable energy access to all.

About BIMSTEC:

  • The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional multilateral organisation.
  • BIMSTEC countries are home to 1.7 billion people with a combined GDP of $3.7 trillion.
  • Its members lie in the littoral and adjacent areas of the Bay of Bengal constituting a contiguous regional unity.
  • Headquarters is situated in Dhaka, Bangladesh.
  • Out of the 7 members, Five are from South Asia –
    • Bangladesh
    • Bhutan
    • India
    • Nepal
    • Sri Lanka
  • Two are from Southeast Asia –
    • Myanmar
    • Thailand
  • BIMSTEC not only connects South and Southeast Asia, but also the ecologies of the Great Himalayas and the Bay of Bengal.
  • It mainly aims to create an enabling environment for rapid economic development; accelerate social progress; and promote collaboration on matters of common interest in the region.
  • The ADB (Asian Development Bank) has become BIMSTEC's development partner since 2005, to undertake a study which is designed to help promote and improve transport infrastructure and logistics among the BIMSTEC countries.
  • So far, ADB has already finished the project so-called BIMSTEC Transport Infrastructure and Logistic Study (BTILS).

BIMSTEC energy Centre (BEC):

  • India hosted the first meeting of Governing Board of BIMSTEC Energy Centre on February 27, 2023.
  • BIMSTEC Energy Centre is situated in Bengaluru, India.
  • Considering the current energy scenario in the region, the meeting recommended adding the additional following areas under the specialized Wings of BEC:
    1. Cyber Security,
    2. Green Hydrogen
    3. Energy Transition.
  • In 2021, the initiative was reorganised into seven sectors.

Status of energy access in BIMSTEC countries:

  • Bhutan has achieved 100 per cent energy access through off-grid energy sources.
  • Nepal has achieved 78 per cent of energy access, while Bangladesh achieved 95 per cent of energy access.
  • Myanmar reported its access to energy at 50 per cent in 2019.

Sri Lanka, India, and Thailand have achieved 100 per cent or near 100 per cent energy access.

Verifying, please be patient.

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