BIMSTEC: Turning Regional Promise Into Trade

As the Bay of Bengal region marks three decades of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), the focus is increasingly shifting towards translating longstanding regional ties into stronger business partnerships. Against this backdrop, the Millennial India International Chamber of Commerce, Industry & Agriculture (MIICCIA) hosted the “Conference on Business Opportunities in BIMSTEC Countries” on October 5, 2026, at the Kamla Devi Complex, India International Centre, New Delhi.

The Outlook magazine supported the event as the official media partner, publicising the prestigious conference across its platforms, providing access to policymakers, industrialists, educationists, entrepreneurs and innovators.

Bringing together around 80 representatives, including senior diplomats, policymakers and representatives of Indian industry, the conference provided a platform to examine emerging opportunities across trade, investment, connectivity and regional economic cooperation. Ambassadors, High Commissioners and Chargés d’Affaires of BIMSTEC member countries, accompanied by Trade Attachés and Commercial Counsellors, joined the discussions.

Opening the conference, MIICCIA President Ambassador Anil Trigunayat welcomed participants and outlined the potential for stronger commercial partnerships while he outlined regional trade ambitions.

Ambassador Rudrendra Tandon, Secretary (East), Ministry of External Affairs, highlighted narrow trade patterns, limited regional production networks and gaps in trade facilitation. He advocated practical, sector-specific solutions and greater electricity cooperation through bilateral power trading and eventual grid interconnection.

BIMSTEC Secretary General Indra Mani Pandey, addressing the gathering virtually, emphasised the importance of private-sector participation as essential for regional economic integration.

Bangladesh High Commissioner Riaz Hamidullah called for mutual recognition of professional qualifications and academic degrees to facilitate mobility, strengthen services trade and empower SMEs, which he described as the region’s fulcrum.

Sri Lanka High Commissioner Mahishini Colonne stressed that geography alone cannot guarantee economic gains. Diversifying exports, expanding Colombo’s port capacity and building integrated logistics and supply chains are central to attracting investment and creating domestic value.

Bhutan Ambassador Major General Vetsop Namgyel highlighted political stability, clean hydropower, competitive electricity and a skilled workforce. Through initiatives such as Gelephu Mindfulness City, Bhutan seeks niche investment opportunities in wellness, including the proposed Gelephu Mindfulness City, technology and sustainable development.

“Charge d’Affairs/Deputy Chief of Mission of Myanmar, Thailand and Nepal spoke about their vision for BIMSTEC cooperation and business opportunities in their countries.”

The message was clear: BIMSTEC’s next phase depends on converting promises into implementation. Better market access, simpler regulations, stronger connectivity and business-led partnerships could help transform regional goodwill into sustained trade and inclusive growth.

For Indian enterprises, the conference provided an opportunity to understand the commercial landscape across BIMSTEC markets, while for participating countries, it was a forum to showcase investment possibilities and identify potential Indian partners. Together, the interventions underscored a shared priority: translating regional proximity into deeper trade, investment and inclusive growth.