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Intraregional trade in South Asia accounts for barely five percent of the region's total trade¡ªjust a fraction of the 25 percent for the ASEAN region. Bilateral trade between Bangladesh and India represents only 10 percent of Bangladesh¡¯s total foreign trade, and one percent of India¡¯s trade. A key factor for the low numbers is the sub-optimal transport integration in the region.
Transport integration agreements in South Asia therefore are crucial for creating cross-border integrated transport markets in the region. The Motor Vehicles Agreement (MVA)¡ªsigned by Bangladesh, Bhutan, India, and Nepal (BBIN) in 2015¡ªis a cornerstone of that integration. If implemented in full, it could lead to seamless movement of passenger, personnel, and cargo vehicles across the South Asian countries.
Our #OneSouthAsia online conversation explored the challenges and opportunities of transport integration in South Asia- with a particular focus on the eastern part of the region. It discussed the opportunities for improving connectivity between Bangladesh and India and its wider economic benefits like growth in income, consumption and jobs. It was centered on the findings from the new World Bank report, Connecting to Thrive: Challenges and Opportunities of Transport Integration in Eastern South Asia, which will be released on March 9, 2021.
Senior economist Mat¨ªas Herrera Dappe and lead private sector specialist Charles Kunaka presented the findings from the report.
Vikram K Doraiswami is the High Commissioner of India to Bangladesh. He joined the Indian Foreign Service in 1992, and has previously served at the High Commission of India to Hong Kong, Beijing, Johannesburg, Uzbekistan, and Republic of Korea. He was also the Political Counsellor, Permanent Mission of India to the United Nations in New York; Additional Secretary, International Organizations and Summits, and Head of the Division for the South Asian Association for Regional Cooperation (SAARC).
Nihad Kabir is the President of Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI). She is an advocate of the Supreme Court of Bangladesh, and a Senior Partner of Syed Ishtiaq Ahmed and Associates, a leading law firm of the country. She is also the Director and Shareholder of Kedarpur Tea Co. Ltd., a leading tea company.
Hartwig Schafer is the World Bank¡¯s Vice President for the South Asia Region since July 1, 2018. Schafer leads relations with Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka, and manages a portfolio of financial support worth more than $50 billion.
Cecile Fruman is Director, Regional Integration and Engagement in the South Asia Region (SAR). She is responsible for fostering collaborative activities amongst SAR countries and managing partnerships and engagements with SAR and global development partners.
Mat¨ªas Herrera Dappe is a Senior Economist in the Infrastructure Practice Group of the World Bank, where he leads policy research programs on infrastructure. He has published extensively on the links between transport and trade and transport and economic development, the efficiency of ports and logistics, infrastructure investment needs and access, private participation in infrastructure, competition, and auctions.
Charles Kunaka is a Lead Private Sector Specialist and Global Product Specialist on Connectivity and Logistics at the World Bank, where he leads several investment operations and projects on logistics and connectivity in East Asia, South Asia, and Africa. Previously, he served as joint Secretary of the Global Infrastructure Connectivity Alliance, a G20 initiative to share knowledge and experience in order to promote an integrated and coherent connectivity agenda across the world.
#OneSouthAsia conversations explore ideas for regional cooperation in economic connectivity, climate change, and human development. This is a part of our ongoing bi-monthly series.
See our previous conversations: