Experts of Dhaka-based Centre for Policy Dialogue, New Delhi-based Centre for Policy Research and the Institute of Chinese Studies along with former Bangladesh foreign secretary Farooq Sobhan have floated the grouping styled 'Bangladesh-China-India-Myanmar (BCIM)', which has so far held six meetings.

Diplomatic sources here said the fact that the BCIM has so far met six times testifies to the utility of the Track Two initiative in exploring sub-regional economic cooperation among the four countries.

India recognises that the BCIM has the potential to bring three most important neighbouring countries closer in a common pursuit of prosperity through increased use of mechanisms of regional integration.

The ideas of the scholars have provided substantive inputs for policy-makers in the four countries.

New Delhi, however, reckons that the conceptual framework offered by the BCIM initiative is "already subsumed within the existing collaborative architecture in the region".

Already, a web of regional and sub-regional groupings are in place such as SAARC, Bay of Bengal Initiative For Multi Sectoral and Technical and Economic Cooperation (BIMSTEC), Mekong-Ganga Cooperation, ASEAN Summit, East Asia Summit and Shanghai Cooperation Organisation where more than one country of BCIM are present.