Sasec Vision and Strategy
SASEC Powering Asia in the 21st Century defines the SASEC Vision by articulating shared aspirations of the SASEC countries (Bangladesh, Bhutan, India, Maldives, Myanmar, Nepal, and Sri Lanka), and setting the path to achieve these through regional collaboration.
The SASEC Vision lays out a transformative opportunity for the subregion by generating synergies among three levers:
- Resource to industry links. Leveraging natural resource-based industries by tapping into latent industrial demand within the subregion.
- Industry to industry links. Promoting industry-to-industry links within the subregion to develop and strengthen regional value chains and enhance the region’s competitiveness.
- Industry to infrastructure links. Expanding the region’s trade and commerce by providing access to regional and global markets through the development of subregional gateways and hubs.
SASEC OPERATIONAL PLAN
The SASEC Operational Plan 2016–2025 presents the strategic objectives of the SASEC partnership, and the operational priorities of the four main SASEC sectors—transport, trade facilitation, energy, and economic corridor development.
The SASEC strategy aims to deliver on the overarching goals of SASEC—to increase trade and economic cooperation within South Asia, create links to East Asia and Southeast Asia, and promote sustained and inclusive economic growth through regional cooperation. These goals will be operationalized through four main operational priorities:
- Enhancing physical connectivity through multimodal transport systems that are aligned closely with the development of markets;
- Following a comprehensive approach to transport and trade facilitation that will expand the current focus from land-based to sea-borne facilitation, to complement investments in multimodal networks;
- Enhancing electricity trade, which will lead to an expanded and diversified energy supply to meet energy needs and secure power reliability; and
- Promoting synergies between economic corridors being developed in individual SASEC countries, and optimizing development impacts of these economic corridor investments through improved cross-border links.
Many of SASEC’s existing pipeline of projects were drawn from the South Asian Association for Regional Cooperation (SAARC) Regional Multimodal Transport Study, SAARC Regional Energy Trade Study and the Bay of Bengal Initiative for Multisectoral Technical and Economic Cooperation (BIMSTEC) Transport Infrastructure and Logistics Study driven by the shared common aspiration between SAARC, BIMSTEC, and SASEC for an integrated and prosperous Asia. These projects were revisited, aligned, and supplemented to reflect the emerging needs and priorities of the SASEC countries.
SASEC Operational Priorities by Sector
The Operational Plan steps up cooperation within the region, as relationships among countries grow and deepen. These sectoral strategies align each SASEC sector to the goals of SASEC, and reflect the overall focus of each sector.