Trade performance between India and BIMSTEC countries pre- and post-formation of bloc Online publication date: Wed, 29-Apr-2020
by Jasdeep Kaur Dhami; Gurpreet Kaur; Sangram Singh
International Journal of Business and Globalisation (IJBG), Vol. 24, No. 4, 2020
Abstract: The main aim of this paper is to analyse the trade performance of BIMSTEC nations during the pre- and post-era with the help of various trade indices. BIMSTEC was established in 1997 for taking care of economic interests, and emerged from India's look east policy and Thailand's look west policy. India had better export-import complementarity with Thailand and judicious with other BIMSTEC countries. After the formation of BIMSTEC, trade prospects have been open for other economies such as Sri Lanka, Nepal and Myanmar also. India's export diversification to other BIMSTEC nations has been increased during the period of 1998 to 2015, i.e., after the formation of bloc. In case of imports moderate rate of diversification has been noticed during the period of 1998 to 2015. There is a scope of trade with BIMSTEC member nations. Results stated that the economic situation of BIMSTEC countries has been very promising. This may be beneficial for the South-East Asian region for establishment their trade relations with rest of the world.
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