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On 8th November 2024, the Host Country Agreement (HCA) for the establishment of a BIMSTEC Energy Centre was signed in New Delhi by Shri Jaideep Mazumdar, Secretary (East), Ministry of External Affairs, and Shri Indra Mani Pandey, Secretary General of BIMSTEC. The signing of this agreement marks a significant milestone in regional energy cooperation within the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) framework.
Key Highlights
1. The BIMSTEC Energy Centre is set up in Bengaluru, India, with the objective of fostering energy security in the region. The signing of the HCA is a crucial step towards its operationalisation.
2. The Centre will focus on research, joint projects, workshops, and capacity-building programmes related to energy cooperation. Key initiatives will include projects aimed at inter-grid connectivity within the BIMSTEC region.
3. As the lead country for regional cooperation in energy security within the BIMSTEC framework, India has reaffirmed its strong commitment to regional cooperation. The establishment of this energy centre aligns with India’s broader geopolitical strategies, including its ‘Neighborhood First’ policy, ‘Act East’ policy, and the ‘SAGAR’ (Security and Growth for All in the Region) vision.
4. This marks the second regional centre hosted by India under BIMSTEC in the field of security, showcasing India’s leadership and active engagement in strengthening security and energy cooperation in the Bay of Bengal region.
Significance
The BIMSTEC Energy Centre will play a pivotal role in regional collaboration on energy issues, enhancing energy security through shared resources, expertise, and coordinated efforts among the member states. By focusing on inter-grid connectivity and capacity building, the Centre will help improve energy access, sustainability, and infrastructure in the region, contributing to economic stability and growth for all BIMSTEC countries.
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