Map 2.2India Bangladesh Maritime Boundary award

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1.6.2.1. Significance of the Maritime Boundary Award

The award is significant given the geo-strategic/political significance of greater Indian Ocean region and South Asian sub-region. Moreover, the award has wide security and economic implications not only for India and Bangladesh but also for the entire Bay of Bengal region.

♤ The verdict would contribute towards establishing strategic partnerships among the nations sharing borders in the Bay. The award is expected to have positive impact on emerging multilateral forum like BIMSTEC.

♤ The verdict has been broadly accepted by both the countries as a positive development for further consolidation of friendly relations especially given the geo-strategic/political significance of greater Indian Ocean region and South Asian sub-region.

♤ By clearly delineating the maritime boundary between the two nations, the verdict could help boosting coastal and maritime security in the region.

♤ It opened the door for exploration of oil and gas in the Bay—the site of huge energy reserves. India’s discovery of natural gas in 2006 took place in a creek which is situated about 50 km south of the mouth of the Hariabhanga river within the contested zone.

♤ The development of Fishery resources is another prospect.

♤ The award is expected to have positive impact on regional integration and emerging multilateral forum like BIMSTEC. It may be noted that India has already settled its maritime borders with Sri Lanka, Myanmar and Thailand.