Exploring Cooperation in Sustainable Agriculture and Value Addition in BIMSTEC Region
DOWNLOADMay 8, 2024 - Mustafizur Rahman, Muhammad Nafis Shahriar Farabi, Aleen Mukherjee, Satish Y. Deodhar, Sushil Kumar Saxena, Mohammad Jahangir Alam, Md Mazadul Hoque, Ismat Ara Begum, U.M. Aruna Kumara
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EmailThe Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) has emerged as one of the fastest-growing regions of the world. After 27 years of its existence, the region is rapidly ‘catching up’ with its peers in the immediate neighborhood of South East Asia, reflecting development convergence in Asia. This progress is further buoyed by increasing trade among them and with others in the region, driven by price competitiveness. The objective of highlighting these developments is to present that BIMSTEC is a vibrant and economically active region, where growth convergence is taking place due to the rapid growth of the region. This may get further acceleration as graduation of LDCs moves forward. The collective goal of these member states is to foster cooperation and collaboration across various sectors, and agriculture emerges as a critical driver for economic development within this regional framework. As the global agricultural sector grapples with challenges arising from climate change, pollution, lack of nutritional security, decreasing genetic diversity, and evolving protectionist trade regimes, the BIMSTEC nations are not insulated from these challenges. RIS has been keenly focusing on examining the prospects and role of agriculture and its specific sub-sectors in fostering the process of intraregional trade in the BIMSTEC region. RIS, along with the International Food Policy Research Institute (IFPRI) has brought forth this report that highlights the importance of investigating potential avenues for regional cooperation among all members of BIMSTEC in areas of agricultural trade. To stabilize prices, promote regional food security, increase production and productivity, and establish resilient value chains, the chapters urge the BIMSTEC member states to work more closely together.
