Trade is lifting developing Asia’s growth, according to the Asian Development Bank Outlook (ADO) Supplement: A Firmer Growth Outlook for Asia. Despite downward revisions from previous projections, South Asia is still forecast to remain the fastest growing subregion in Asia and the Pacific.
Tags: ADB, Development, South Asia
Economic growth prospects in developing Asia for 2017 have improved on the back of stronger-than-expected export demand in the first quarter of this year, according to Asian Development Bank (ADB) report, Asian Development Outlook (ADO) 2017 Supplement. South Asia will remain the fastest growing of all subregions in Asia and the Pacific, with growth on track to meet projections of 7.0% in 2017.
Tags: South Asia, ADB, India, Exports, Development
The Asia Foundation, in collaboration with the Confederation of Indian Industry, is preparing a study on energy trade in the Bangladesh-Bhutan-India-Nepal subregion, examining how market forces, networks, and stakeholders interact. In this commentary, Mr. Aditya Valiathan Pillai, program officer of the Asia Foundation in India, discusses the creation of an energy market in South Asia and the growing importance of regional electricity trade in helping mitigate carbon emissions.
Tags: South Asia, BBIN, Bangladesh, Bhutan, India, Nepal, Energy, Hydropower
Bangladesh has the potential to become a transport hub for India, Bhutan, Nepal, Maldives, Sri Lanka, and Myamar, according to Mr. AMA Muhith, Finance Minister, Bangladesh. Turning Bangladesh into a regional and transshipment hub would enhance economic cooperation and result in collective economic growth for the countries, Mr. Muhith said at the SASEC Finance Ministers’ Meeting in New Delhi, India.
Tags: Bangladesh, Bhutan, Economic Corridor Development, Energy, ICT, India, Nepal, Maldives, Myanmar, SASEC, South Asia, Sri Lanka, Trade Facilitation, Transport, Regional Cooperation
A fast-rising information technology-enabled services (ITES) is opening global opportunities for the millions of Indian college graduates that enter the workforce every year. In this article, Mr. Pritam Banergee, Senior Director for Corporate Public Policy (South Asia), Deutsche Post DHL, discusses the need for India’s government and businesses to focus on trade policy reform that ensure markets remain open for the ITES sector.
Tags: Authorised Economic Operators, ICT, India, Employment, Jobs, Services, South Asia, Tariffs, Technology, Trade Facilitation, Trade Facilitation Agreement, Trade Policy, WTO
Bhutan Prime Minister Tshering Tobgay met Ms. Kanokpan Lao-Araya, incoming Country Director, Asian Development Bank (ADB) Bhutan Resident Mission, and Mr. Hun Kim, Director General, ADB South Asia Department in Thimphu, Bhutan, after presentation of Ms. Lao-Araya's credentials to Bhutan Minister of Foreign Affairs, Mr. Damcho Dorji. ADB is upgrading Bhutan from a representative office to full-country operations.
Tags: ADB, Bhutan, Regional Cooperation, South Asia
The interactive session “Harnessing Regional Cooperation in South Asia” held at the Annual Meeting of the World Economic Forum discussed how regional economic cooperation is helping accelerate growth and development. Bangladesh Prime Minister Sheikh Hasina emphasized continuous initiatives, in economic cooperation in South Asia, including SAFTA and SASEC. India Minister of State for Commerce and Industry Nirmala Sitharaman lauded initiatives to boost connectivity.
Tags: South Asia, Regional Cooperation, Trade Facilitation, Transport, Bangladesh, Bhutan, India, Nepal
Two of three South Asia Subregional Economic Cooperation project components are seeing progress in Bhutan. A planned mini dry port project aims to provide cargo and other commercial vehicles a route that avoids traffic jams in the border town of Phuentsholing. A 2.66-kilometer bypass will also be built to connect Bau Bazaar in Jaigon and the Phuentsholing-Thimphu highway.
Tags: ADB, Bhutan, Transport, Customs, Road, SASEC, South Asia
The Directorate of Revenue Intelligence under the Central Board of Excise and Customs organized the 4th Regional Customs Enforcement Meeting in New Delhi, India, as part of its Founding Day celebrations. The Heads of Customs Enforcement from Sri Lanka, Myanmar, Bangladesh, Nepal, Bhutan, Mauritius and Maldives were invited to participate in the said Meeting, which discussed issues of mutual concern, noted the need to share information and activate channels of coordination.
Tags: Customs, Trade Facilitation, South Asia, Regional Cooperation, India, Sri Lanka, Myanmar, Bangladesh, Nepal, Bhutan, Maldives, Myanmar, Trade
South Asian countries should engage more in regional energy trade and joint management of resources. By doing so, they could save over $9 billion annually and reduce carbon emissions by 8%. And since energy drives development, energy cooperation and trade is expected to translate to improved standards of living and poverty reduction.
Tags: Energy, Hydropower, South Asia, Bangladesh, Bhutan, India, Maldives, Nepal, Sri Lanka
The 13th SAARC trade fair was held in Thimphu, Bhutan, to promote intra-regional trade and investment among SAARC countries. In his opening address, Mr. Lekey Dorji, Bhutan Economic Affairs Minister, underscored the importance of fostering business links among companies in the region to accelerate economic growth and improve people's well-being.
Tags: SAARC, Trade, South Asia, Bhutan, Bangladesh, India, Nepal, Maldives, Sri Lanka
South Asia Subregional Economic Cooperation (SASEC) investment projects increased to a cumulative $7.66 billion in the areas of transport, energy, trade facilitation, and ICT with the recent approval of India’s Bihar New Ganga Bridge Project. To date, 40 SASEC-supported projects are helping member countries strengthen regional connectivity infrastructure, promote economic growth, and foster regional cooperation. In addition, there are now 71 technical assistance projects worth $66.14 mi
Tags: SASEC, Energy, Trade Facilitation, Transport, South Asia, ADB, ICT, Bangladesh, Bhutan, India, Maldives, Nepal, Sri Lanka, Economic Corridor Development
The economic corridor development (ECD) strategy is an approach that integrates and synergizes industry, infrastructure, and urbanization through meticulous planning over a long-term horizon. An Asian Development Bank (ADB) blog post by Mr. Hoe Yun Jeong, Senior Economist (Regional Cooperation), South Asia Regional Department, published on 26 July 2016, shares how an ECD approach can be beneficial for the South Asia region.
Tags: Economic corridor, India, Vizag-Chennai Industrial Corridor, South Asia, East Coast Economic Corridor, Economic Corridor Development, Bangladesh, Sri Lanka
Bangladesh, Bhutan, India and Nepal (BBIN) signed a landmark Motor Vehicles Agreement (MVA) meant to allow smooth passage of goods and passenger vehicles in each other’s territories. In this blog post, Sanjay Kathuria, Lead Economist and Coordinator, South Asia Regional Integration, Trade and Competitiveness Global Practice, World Bank, asks if South Asia is truly ready for such a regional agreement.
Tags: South Asia, Transport, Trade Facilitation, Bangladesh, Bhutan, India, Maldives, Nepal, Sri Lanka
Mr. Hun Kim, Director General, South Asia Department, ADB, describes how partnership of 6 South Asian countries through the ADB-supported South Asia Subregional Economic Cooperation (SASEC) Program is helping propel economic growth in South Asia, amidst an uncertain regional and global economic climate, by working to increase trade volumes to reduce the number of impoverished people in the region.
Tags: Regional Cooperation, South Asia, Energy, Trade Facilitation, Transport, Bangladesh, Bhutan, India, Maldives, Nepal, Sri Lanka
The Economic Cooperation Dialogue on Regional Connectivity and Border Special Development Zones in Eastern South Asia highlighted the importance of transport corridors to promote trade and economic cooperation in the region. Dr. Nagesh Kumar, Head, UNESCAP Subregional Office for South and South-West Asia, shared how developing transport corridors can turn constraints faced by the region's landlocked countries into opportunities.
Tags: Trade, Transport, South Asia, Myanmar, Bangladesh, Bhutan, India, Nepal
Dr. Selim Reihan notes that drivers of political economy can impact the region's integration agenda. In this essay, Dr. Raihan highlights the importance of exploring the political economy of regional integration to generate a better assessment of the factors driving and constraining regional integration, and create broader awareness among stakeholders to stimulate a more realistic and effective regional policy design and processes.
Tags: Economic corridor, Bhutan, India, Bangladesh, Nepal, Maldives, Sri Lanka, SAARC, SAFTA, Services, South Asia, Infrastructure, Trade Facilitation, Transport
On 8 December 1985, the South Asian Association for Regional Cooperation (SAARC) Charter was signed by Heads of State/Government of SAARC Member States during the First SAARC Summit held in Dhaka, Bangladesh. SAARC promotes welfare economics, collective self-reliance among the countries of South Asia, and accelerated socio-cultural development in the South Asia region.
Tags: SAARC, Regional Cooperation, South Asia, Bangladesh, Bhutan, India, Nepal, Maldives, Sri Lanka
South Asia is set to play a strategic role in Asian integration. This commentary by Mr. Ganeshan Wignaraja, Advisor in the Asian Development Bank’s Economic Research and Regional Cooperation Department, shares how linking emerging South Asia with the more developed member countries of the Association of South East Asian Nations will transform regional economies through development of regional connectivity, and create a huge regional market of 2-3 billion people.
Tags: South Asia, Economic corridor, Development, ASEAN, Southeast Asia, East Asia, Trade Facilitation, Transport, Tourism, manufacturing, Bangladesh, Bhutan, India, Maldives, Nepal
The SAARC Chamber of Commerce and Industry (SAARC-CCI) has developed a comprehensive mechanism to resolve SAARC trade disputes amicably through the SAARC Arbitration Council (SARCO). SARCO offers a fair mechanism, and guarantees thorough inquiry in the pursuit of legal solutions to conflicts.
Tags: SAARC Arbitration Council, SAARC CCI, Trade, South Asia
Regional integration between South and Southeast Asia remains relatively limited, hindered by various problems, including bottlenecks in transport infrastructure. Enhancements in road, railways, and port infrastructure, as well as new road and rail links between Bangladesh, India, Myanmar, and Thailand will lower unit transport costs, reduce shipping times, and increase the quantity of goods, all of which will lead to increased trade.
Tags: Transport, Trade Facilitation, Southeast Asia, South Asia, Rail, Ports
Integration indicators in the South Asia Subregional Economic Cooperation (SASEC) subregion have been updated to include 2014 data, based on calculations by the Asian Development Bank’s Asia Regional Integration Center. SASEC trade integration has continued to increase over 2012-2014, as shown by its Intra-regional Trade Intensity Index.
Tags: South Asia, Trade, Trade Integration
The time is ripe to enhance economic integration between South Asia and Southeast Asia according to a joint study by the Asian Development Bank and the Asian Development Bank Institute. While cross-subregional trade has increased from $4 billion to $90 billion over a 23-year period, bottlenecks in infrastructure, financial markets, trade facilitation, trade barriers and regional cooperation continue to limit further improvement of economic ties.
Tags: South Asia, Southeast Asia, Transport, Trade Facilitation
South Asian Association for Regional Cooperation (SAARC) member countries are currently working on six Memoranda of Understanding (MoUs) that will link South Asia by rail, road, air and sea, to stimulate greater trade within the region. This includes the SAARC Motor Vehicles Agreement and SAARC Regional Railways Agreement.
Tags: Connectivity, South Asia, Transport
The South Asia Department of Asian Development Bank (ADB) will host a validation forum on the Gender Dimensions of Regional Cooperation and Integration in South Asia, on 28-29 October 2014 at ADB Headquarters in Manila, Philippines. Results of two complementary studies (i) “Gender, Trade and Green Growth in Bangladesh, Bhutan, India, and Nepal” and (ii) “Gender and Safe Mobility: Promising Global and Regional Practices” will be presented.
Tags: Gender, Regional Cooperation, South Asia
Climate change alters the dynamic of energy security in South Asia with electricity demand projected to grow fourfold by 2030. Climate change adaptation and variability in the region renders most countries vulnerable. Access to energy services affects practically all aspects of sustainable development.
Tags: South Asia, Energy, Climate Change
July 2014 May 2014 January 2014
ADB's third Regional Cooperation Operations Business Plan (RCOBP) 2014-2016 for South Asia under its South Asia Regional Cooperation Strategy (RCS) 2011-2015 details a cumulative indicative lending program of $3.3 billion and maintains focus on improved regional connectivity, increased cross-border trade, and strengthened regional economic cooperation.
Tags: Regional Cooperation, South Asia, Infrastructure
November 2012 November 2012 November 2012
The SASEC energy working group agreed to conduct feasibility studies for three new priority large-scale cross-border transmission projects worth over $3 billion at a meeting on 9 November 2012 in Thimphu Bhutan.
Tags: Bhutan, Energy, Investment, SASEC, South Asia
October 2012 October 2012 June 2012
The SAARC Working Group noted that under Phase II all member states had already reduced their respective Sensitive Lists by a minimum of 20%. Bhutan India and Maldives had made substantial reductions in their lists which in fact were significantly more than the previously mandated reduction level.
Tags: Bhutan, Free Trade Agreement, India, Maldives, SAARC, SAFTA, South Asia, Trade
May 2012 May 2012 April 2012 March 2012