BIMSTEC Synergies in Agricultural Trade: Promoting Regional Growth

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August 14, 2024

The report, BIMSTEC Synergies in Agricultural Trade: Promoting Regional Growth, outlines the outcomes of a June 2024 conference held in New Delhi. The conference focused on enhancing agricultural trade in the BIMSTEC region, which comprises key agricultural economies like India, Bangladesh, and Thailand. It explored synergies in agricultural value chains, addressing trade barriers and opportunities for collaboration to foster regional growth.

Key discussions included the challenges posed by protectionism in agricultural trade, tariff and non-tariff barriers, and the rise of processed and non-processed food trade. Additionally, the report emphasized the importance of agricultural value chains in boosting economic diversification and regional trade integration. Experts also discussed the potential for increasing intra-regional trade through harmonized food standards, technological innovations, and capacity-building efforts.

The report concludes with strategic recommendations for promoting agricultural trade-led growth, encouraging policies that facilitate investment in agricultural processing, and reducing trade restrictions to foster sustainable economic development in the region.

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