The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) represents a population of 1.7 billion people, accounting for 22 per cent of the world’s population. With a combined gross domestic product (GDP) of approximately US$ 3.6 trillion, the BIMSTEC countries hold significant potential to contribute to the global economy. However, despite notable economic progress, these nations continue to face challenges, such as global inequality and rising unemployment rates. The region has made substantial advancements over time, but its recent socio-economic performance has declined, particularly in the wake of the COVID-19 pandemic.
Authors: Fahmida Khatun and Afrin Mahbub
Publication Period: January 2025